Quant Price Forecast: December 7
The QNTUSD pair may likely face the upside promptly soon. The price is on the verge of a possible reversal to the upside. Should the bulls regroup and push higher, a further bullish breakout from the $123.519 value will accelerate the new bullish correction phase. The $350.000 resistance mark and beyond might be the target.
Resistance Levels: $200.000, $200.100, $200.200
Support Levels: $123.200, $123.100, $123.000
QNTUSD Long-term Trend: Bullish (Daily chart)
The Quant market has a bullish posture in its long-term outlook as can be seen from the chart above. Meanwhile, it also shows the impeding next big move in the price.
The recent market structure has favored the bulls. The drop in the coin price to the $121.707 low value during yesterday's session has no serious effect on the market as the price remains in an uptrend.
Today, despite the moves by the sell traders the price of QNTUSD remains in an uptrend above the EMA-9 at the $123.519 support value. Thus, staying above the EMA-9 will give the bulls more strength to move the crypto price to the positive side.
A possible breakout from the mentioned support level will provide a higher float for buyers and prolong the ongoing recovery.
Similarly, it is very likely for the coin price reverse and faces the upside as the market is now approaching the oversold region, this means that the selling pressure will end soon. So we expect the new bullish correction rally to reach a $350.000 resistance value in the nearby days in its long-term perspective.
QNTUSD Medium-term Trend: Bullish (4H chart)QNTUSD Price to Face the Upside Soon
The QNTUSD pair showed evidence of a bullish rally and a surge above the moving averages indicates growth in bullish momentum. This bullish pattern will further encourage further recovery and breach the $112.954 supply level. The increase in speed by the bulls to the $132.989 high value in the previous action has sustained the crypto's upward trend.
After resisting the bears, the aggressive move by the bulls pushed the Quant price up to the $123.519 resistance value above the moving average lines as the 4-hourly chart opens today. Thus, the bullish correction at the mentioned supply value returns the buy investors to the market for the next increase race.
Hence, we have a bullish bias that the coin price will continue the bullish trend as the market is oversold already. Suppose the buying pressure should increase the crypto. In that case, there may be a potential rise in the Quant price and this might possibly retest the previous high at the $235.000 supply level which might further extend the coin price to the $350.000 high trend line in the coming days in its medium-term outlook.
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