Quant Price Forecast: May 22
The QNTUSD price is recovering as the bulls aim to push higher above the $168.38 level. The coin having rebounded will most likely continue its bullish correction and the price could go higher and hit the mentioned resistance value level if all the support holds and the buy traders could exert more force into the market. Therefore, if the bulls could push higher and close above the mentioned resistance value, a bullish breakout confirmation will reflect the improved market sentiment. Doing so will offer a higher footing for buyers to prolong this recovery. Thus, a post-retest rally may drive the coin prices high to hit the $400.000 resistance trend level.
Key Levels:
Resistance Levels: $180.00, $190.000, $200.00
Support Levels: $109.00, $108.00, $107.00
QNTUSD Long-term Trend: Bearish (Daily chart)
QNTUSD indicates a downward trend with a bearish sentiment in its long-term perspective. The coin is trading in green below the two EMAs. Thus, the bulls are capable of pushing higher from this trend line as the cryptocurrency has resumed its upward move.
The interference from the sell traders at $104.49 in the past few days has made the coin price drop below the supply trend lines in its recent high.
Today’s coin price on the daily chart is currently facing resistance and trading at the $103.03 correction level below the two EMAs. Such lower price rejection indicates that buyers are defending at this level and attempting to push the price higher. Hence, a strong push above the $168.38 supply level will offer strong resistance to the crypto price.
Further, the Quant price may likely continue in the same bullish trend as the market is in an upward direction on the daily stochastic. So, the price could be ready very soon for a more bullish impact. In this case, a significant level above the $400.00 supply level might be reached soon in its higher time frame.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD – Bulls Will Push Higher
The currency pair’s orientation trades in a bearish market in its medium-term outlook. The price bar is seen below the moving averages.
The intervention from the sell traders at the $104.49 value in the previous action has made the coin price drop below the supply trend line in recent times.
The current price at the $103.03 supply level below the moving averages as the 4-hourly chart resumes today is a bullish recovery pattern indicating that the coin price is recovering steadily while the buy traders are ready to push us higher from here. Thus, if the bulls regroup and push higher, a steady rise above the mentioned supply value will accelerate the new correction phase to a significant key level in the supply area.
Adding to that, the Quant (QNTUSD) price is recovering steadily as the bulls are now set to push the coin prices further. Hence, the daily stochastic also suggest an uptrend,
Should buyers interrupt the sell traders by pushing higher, the bullish pattern may increase the coin price to rise further to a $138.99 high value which might possibly hit the $400.00 supply trend line in the days ahead in its medium-term outlook.
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