Quant Price Forecast: November 9
QNTUSD might finish the downward correction and start reversing soon. However, this will be achieved if the bulls change their perspectives toward the market and the coin price closes above the $235.000 supply mark. The target might be a $450.000 resistance trend line.
Key Levels:
Resistance Levels: $200.200, $200.300, $200.400
Support Levels: $147.500, $147.400, $147.300
QNTUSD Long-term Trend: Bearish (Daily chart)
Quant is in a bearish trend on the daily chart. The price bar can be equally seen below the moving average lines. This is due to the inflow coming from sellers which will soon be invalidated.
At the time of writing this article, the coin price found support at the $148.248 level below the two EMAs. Thus if the bulls increase their momentum the price may possibly turn upside down to retest the $235.000 high level soon.
Meanwhile, the QNTUSD pair is about to experience more upsides and may be the time to buy soon as the stochastic indicator has reached the oversold region, this means that the coin price is posed to advance to the upside and may likely reach the $450.000 resistance trend line in the coming days in its long-term view.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD Will Bounce Up Soon
The price of QNTUSD is in a bearish move in its medium time frame. The prices are seen slightly below the moving averages, this is due to the brief returns of sellers which may soon fade off.
The pair has reached the $151.265 resistance level after which the inflows from the short traders slowed the price down to a low at $148.248 value as the 4-hourly chart opens today. Should the bulls add extra efforts to their buying activities, the coin price may possibly reverse and face the upsides to gain more strength.
However, with this trend, traders may buy the coin at a low price and move the market higher.
In addition, a Quant price which is pointing downward at the oversold region indicates that the selling pressure is exhausted, therefore a shift in the trend is expected as the bulls are coming soon to change the trend of the market to the positive side, and in this case, $450.000 high mark may be the target in the days ahead in its medium-term perspective.
Therefore traders should get ready time to buy the coin as the market turns to a bullish scene very soon.
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