Quant Price Forecast: December 20
The Quant price is on the verge of breaking up the $117.76 supply level to grow more. With the look of things, if the buy traders should increase their tension in the market the crypto price may likely reverse and break up the previous supply at the above-mentioned level which might likely extend to the $130.00 upper resistance level.
Key Levels:
Resistance Levels: $104.00, $105.00, $106.00
Support Levels: $99.00, $98.00, $97.00
QNTUSD Long-term Trend: Bullish (Daily chart)
The momentum on the long-term outlook looks bullish as can be seen from the chart above. The price of QNTUSD is currently trading above the resistance close to the EMA-50.
The sustained bullish pressure to a $117.12 high level about three days ago has led to the coin’s recent high.
Activities from the sell traders dropped the price of Quant down to a $104.99 low level above the EMA-50 as the daily chart opens today. Thus, staying above the moving average will make it possible for the crypto to rise further and break up the resistance level soon.
Thus, if the bulls can put extra effort into the price action, the coin price could turn positive and break above the $117.76 supply mark which would put a stop to further selling pressure.
In continuation, there is a possibility of the QNTUSD price breaking up the $117.76 level soon as the market approaches the oversold region of the daily stochastic. This will now compel the long traders to emerge and push the coin market up. The $130.00 significant level at the upside might be the target in its long-term time frame.
QNTUSD Medium-term Trend: Bearish (4H chart)
The momentum on the long-term outlook looks bearish but it is starting to turn bullish as can be seen from the chart now. The price of QNTUSD is currently trading at the resistance close to the EMA-50. So it seems likely that the bulls are about to take over and push us higher.
The bears’ pressure to a $110.25 low level in the previous session has led to the crypto’s bearish posture in its recent low.
As a result of price rejection, buyers have been able to push the price of Quant higher to a $107.55 high level below the EMA-50 as a pullback as the daily session opens today.
The price is fetching some fresh buying interest as sellers seemed exhausted. This means that the long traders are coming gradually: hence, breaking up the $120.92 previous high could be achieved soon.
Thus, buyers need to add more pressure to their activities to move the market beyond the current price level.
Furthermore, the Quant market is on the verge of breaking up the $117.76 resistance level as the coin is oversold already and ready for an upward trend, with this intended action; the coin price might likely reach a $130.00 high level sooner in its medium-term perspective.
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