Quant Price Forecast: July 8
QNTUSD‘s price is ascending to the $400.00 supply level as it remains bullish and also looks good for the long investors at present. The coin market is facing an increase in buying pressure. Hence, the crypto could continue to rise upward if it breaks up the $168.38 resistance value and the daily candle closes above the mentioned resistance. The $400.00 upper supply level might be the target.
Key Levels:
Resistance Levels: $140.00, $150.00, $160.00
Support Levels: $100.00, $98.00, $97.00
QNTUSD Long-term Trend: Bullish (Daily chart)
Amidst the recent uncertainties in the crypto market, the daily chart session of Quant shows a bullish race. Price is trading above the support of the price channel again. This however confirms the presence of a more bullish impact on the currency pair.
The coin has been making higher highs and higher lows in the previous actions reaching the $111.23 supply value; this has made it possible for the price to maintain an uptrend in its recent high.
The market value of QNTUSD spikes up to the $118.53 high level above the two EMAs as the daily session begins today; this however indicates an uptrend in the momentum of the price of the pair.
A possible breakout from the mentioned supply level will provide a higher float for buyers and set up a quick rise and prolong the ongoing recovery.
Additionally, the daily stochastic remains in an upward direction. Hence, if the buy traders manage to break above the $163.38 previous swing high, the market participants may witness a new recovery rally and this may likely reach the $400.000 high mark in the days ahead in its higher time frame.
This signals a BUY trade again as the QNTUSD price continues in an ascending channel in its long-term perspective.
QNTUSD Medium-term Trend: Bullish (4H chart)
QNTUSD Price to Reach the $400.00 Supply Level
QNTUSD is in a bullish trend in its medium-term outlook. The price bars can be sighted above the supply trend levels.
Despite the moves from the short traders, the bulls managed to push the coin price up to the $111.23 supply level during the previous session and sustained its upward momentum in its recent high.
The journey up north continues as the bulls caused a rise again in the price of QNTUSD to the $113.31 resistance value above the moving averages as the 4-hourly chart opens today. This indicates more active buy traders in the price flow.
Additionally, with sustained buying, the aggressive buyers who entered $113.23 may get liquidated and bring more buying orders which might prolong the recovery pattern.
Hence, should the bulls intensify more efforts in the market, the buying pressure might remain in an ascending channel and push the price of Quant higher to the $400.00 upper resistance level in the days ahead in its medium-term outlook.
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