Quant Price Forecast: December 23
The market price of QNTUSD could reverse at the $105.86 support level to resume its upside moves soon. If investors can prove stronger and exchange hands with the bears at the mentioned support level, the crypto could swing higher to retest its previous high of $120.90 level which might further extend to the $125.00 upper resistance level, bringing more gains to the coin investors.
Resistance Levels: $107.00, $108.00, $109.00
Support Levels: $89.00, $88.00, $87.00
QNTUSD Long-term Trend: Bullish (Daily chart)
QNTUSD indicates a bullish trend in its long-term perspective. The coin is trading in red above the EMA. However, the bears’ pressure could reverse back to the positive side soon as the market now trades at the oversold region.
The sustained bullish pressure at the $111.00 supply value during yesterday’s session has made the crypto price remain intact above the supply levels in recent times.
Quant’s price drop to a $105.86 low value as the daily chart began today has no significant impact on the market because the price remains in an uptrend.
Thus, if the bulls can put extra effort into the price action and break above the $111.00 supply mark, the crypto price could reverse to the upside and further selling pressure will be put into hibernation.
Additionally, the momentum indicator pointing downwards below level 20% in the oversold region suggests that the QNTUSD price could reverse at the $105.90 current support, if this is achieved by the bulls, the next recovery target could be the $125.00 upper resistance value in the coming days in its long-term outlook.
QNTUSD Medium-term Trend: Bearish (4H chart)QNTUSD Price Reversal at the $105.86 Support Level
QNTUSD is bearish in its medium-term perspective. The coin price is trading below the supply levels and has confirmed its bearishness. However, the current trend could reverse soon as the market is oversold already.
The bearish pressure at the $108.94 support level in the past few hours has made the coin stay below the supply trend levels in its recent low.
However, with the overall market trend still bearish, the Quant price could reverse and may likely plunge higher to retest the high accumulation zone at the $120.00 supply value and render any bearish correction invalid.
Meanwhile, further downsides are unlikely as the market price of QNTUSD has reached the oversold region. The coin could reverse at the mentioned support to resume an uptrend soon, so we can now grow in confidence that a potential buy is coming near. The $125.00 might be reached in the near days in its medium-term outlook.
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