Despite dropping 40% from the high, the Quant price finished September a respectable 40% higher over the four weeks. However, Quant (QNT) has been trending lower for the last three weeks, which looks set to continue for the time being.
Quant was on a tear at the start of last month. In the first five days of September, the QNT token exploded 150% to an all-time high of $471.50. Remarkably, $250 of that came in a single hour. QNT started the 5th trading at $212 but by mid-morning was closing in on $500. However, the sudden spike quickly reversed, and the Quant price finished the day 40% higher at $319. However, dip-buying lifted Quant back to $433 by the 11th, where the rally ran out of steam. Since then, Quant has followed the broader market lower in a choppy downward trend. As a result, the token is on course for a test of a significant support level.
QNT Price Forecast
The four-hour chart shows a descending trend line caps QNT at $305. Additionally, the 200-day moving average at $297, and the 50-day at $300, add to the resistance. As long as Quant is below $305, it looks likely to target trend support.
A logical target on the downside is a rising trend line from August at $247. The trend aligns with the 21st of September low to create considerable confluent support. On that basis, if QNT nears $250, dip buyers are likely to emerge, but if QNT falls below $247 on a closing basis, a 25% drop to $180 is probable. The bearish outlook remains whilst the downtrend dominates the action. Therefore, if Quant climbs above $305, the view becomes invalid.
Quant Price Chart (4-Hour)
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