Quant Price Forecast: October 11
After completing the low dips, it is pertinent that the QNTUSD buyers invade the coin market to reverse the crypto price at the $86.76 support level to resume its upside moves soon. Should buyers wrestle with the sell traders, the coin price may likely rebound at the mentioned support to retest the $112.48 high level which 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 prices high to hit the $150.00 resistance trend level.
Key Levels:
Resistance Levels: $100.00, $101.00, $102.00
Support Levels: $86.00, $85.00, $84.00
QNTUSD Long-term Trend: Bearish (Daily chart)
Quant price is in a bearish market at the moment in the higher time frame, this is because the sell traders are now involved in the order flow. Further, the price action can be seen below the EMA Thus, buyers will invade soon as the crypto price is now close to the oversold region.
The sustained bearish pressure at the $85.60 support value during yesterday’s session has made the crypto price drop below the supply level in its recent low.
Sellers’ inflow dropped the price of QNTUSD down to a $86.76 low level below the EMA as the daily chart opens today. However, price reversal at the mentioned current support level is more likely.
This bullish reversal pattern could assist coin buyers in challenging the $112.48 neckline and invalidate any further decline.
Meanwhile, there is a possibility for a price reversal at the mentioned support as the market now approaches the oversold region of the daily stochastic.
This upcoming bullish rally may likely break the $112.48 high mark which might possibly hit the $150.00 supply value in the coming days in the long-term outlook.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD Buyers to Invade Soon
The QNTUSD pair is trading in a bearish market in its medium-term outlook. This is due to the high influence of the sell traders. Hence, it seems that buyers will invade soon as the market price approaches the oversold region.
Pressure from the bears to a $86.69 low value in the previous action also contributed to its bearishness in its recent low.
Today, the bulls are trying hard to remain above the $92.96 supply mark, so there is a possibility for the coin price to pull back at the current support of $86.76 value to invalidate the bearish theory.
Additionally, a further rise in the market price of Quant is possible, as the selling pressure now approaches the oversold region of the daily stochastic. This will make it possible for buyers to invade soon and this may lead the price of QNTUSD to a $150.00 high mark in the days ahead in its medium-term outlook.
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