Quant Price Forecast: May 24
The QNTUSD price is rising again. The pair at the moment is trying hard not to fall by resisting sellers, in case the bulls prove stronger by increasing their buying pressure and breaking up the resistance level of $168.38; the coin price may increase to a $400.00 high level and beyond.
Resistance Levels: $170.00, $180.00, $190.00
Support Levels: $107.00, $106.00, $105.00
QNTUSD Long-term Trend: Bearish (Daily chart)
The currency pair is trading in a bearish market in its long-term outlook. The price bar can be seen below the two EMAs, indicating a downward trend. This is due to the high influence of the sell traders.
However, the coin was able to reach a high of $103.03 value during yesterday’s session and has prepared the Quant market for an upward performance in its recent high.
The coin price is currently trading at the resistance level of $101.26 slightly below the two EMAs; this assures or confirms the bull’s gradual return to the market. The longer the price stays above the mentioned level, the more pressure builds up to reach a key significant level at the upside.
Meanwhile, the current price shows a power struggle at the overhead resistance trend line, resisting the start of another bear cycle.
In a like manner, the daily stochastic suggests that the selling pressure has been exhausted by pointing down below the 2% range in the oversold region. This implies that the bullish pattern may likely continue, we can therefore expect the potential bull trend to push us high to the $400.00 upper resistance mark in the coming days in its long-term view.
QNTUSD Medium-term Trend: Bearish (4H chart)QNTUSD Price Is Rising Again, Buy!
QNTUSD rebounded after its downside moves. The coin is now finding its way to the overhead resistance level in its medium-term time frame. The market shows that the price may soon be trading in a new ascending channel.
The crypto has interference with the sell traders in the previous action and has dropped the coin price below the supply trend lines in its recent time.
The buy traders pushed the market price of Quant up to the $101.26 resistance value slightly below the two EMAs shortly after the 4-hourly chart opens today. A break above the $138.99 level would intensify the buying pressure on the crypto.
This bullish correction, however, indicates a gradual improvement in market sentiment and leads to more intraday gain assets to higher prices. In addition to that, the coin is likely to continue moving up as we are seeing a bullish correction in place.
Thus, should the bulls change their orientation and the buying pressure persists, the coin will possibly give a bullish breakout of the bearish pattern to retest the $ supply level, this may eventually lead the Quant price to the $400.00 high mark in the coming days in its medium-term perspective.
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Quant Price Forecast: May 24