Quant Price Forecast: February 7
The Quant (QNTUSD) pair is heading towards the new resistance trend levels after hitting the $100.15 low level to signal a pump. As a result, a significant push above the supply trend levels from the current price of $103.26 will place the cryptocurrency in a bullish trend and this may further extend to a $160.00 resistance level resulting in intraday gains for the buy traders. Thus, a turnaround and clear buy crypto signal for the coin holders.
Resistance Levels: $108.00, $109.00, $110.00
Support Levels: $98.00, $97.00, $96.00
QNTUSD Long-term Trend: Bearish (Daily chart)
The QNTUSD pair indicates a downward trend with a bearish sentiment while the price is heading toward the new resistance trend levels in its long-term perspective.
This is due to the inflows from the short traders in the market which will soon be hibernated as the bulls are now set to take us higher to the new resistance trend levels.
The sustained bearish pressure at the $100.155 support value during the past session has made the crypto price drop below the supply levels in its recent price level.
As the daily session opens today, the Quant price established a stable resistance at $103.26 value as a pullback below the supply levels after finishing the low-dips at the $100.15 low mark.
Thus, it is very likely that the bulls will continue climbing as we are currently witnessing a bullish correction to the new resistance trend levels. A strong breakup above the $153.78 resistance point would strengthen the bullish pressure.
Similar to this, the daily stochastic, which is pointing upward at the oversold area, suggests that the QNTUSD price may likely continue heading toward the new resistance trend levels.
This indicates that there is no longer any selling pressure, thus we can anticipate the upcoming bullish correction phase to reach a high at the $160.00 value in the days ahead in its higher time frame.
QNTUSD Medium-term Trend: Bearish (4H chart)
Quant is in a bearish momentum in its medium-term view. The trend has just resumed its rising pattern while heading to the new resistance trend levels but has not yet reached its goal.
The price drop to the $100.15 low value during the previous action has made the coin price trade below the supply levels in its recent high. This will soon be invalidated as the bulls are now heading towards the new resistance trend levels to resume the bullish trend.
The aggressive move by the bulls pushed the QNTUSD price up to the $103.26 resistance value below the moving average lines as the 4-hour chart opens today. This suggests that buyers are coming in a grand style to dominate the market and sellers are getting weaker.
As a result, if the buying pressure should increase, we believe that the price of Quant will continue to grow higher. The cryptocurrency is currently experiencing a correction.
Shortly, the price may rise to a new resistance level and retest the previous high at the $132.24 supply level which might further extend the coin price to the $160.00 upper high trend line in the coming days as the coin price is heading towards the new resistance trend levels in its medium-term perspective.
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Quant Price Forecast: February 7