Quant Price Forecast: October 7
QNTUSD price has just resumed its rising pattern and the price may break up the resistance level soon as the coin price is close to the resistance trend line at the $87.71 price level. If the forces from buyers in the market should increase and the current support level at $84.75 holds, the coin price may possibly soar above the $117.89 previous swing high and this may extend to the $150.00 upper high mark and beyond.
Key Levels:
Resistance Levels: $110.00, $111.00, $112.00
Support Levels: $90.00, $89.00, $88.00
QNTUSD Long-term Trend: Bearish (Daily chart)
QNTUSD pair indicates a downward trend with a bearish sentiment in its long-term perspective as can be seen from the chart below. The coin price is about to experience a change in trend and this might break up the $117.89.
The price drop to the $84.75 low value during yesterday’s session has made the coin price trade below the supply levels in its recent high.
Today, the crypto is currently experiencing a correction phase as the coin price remains certain and trades at the $87.71 supply level below the EMA. This shows that buyers are returning gradually and are currently gaining more strength in the market.
Thus, a breakout by the bulls above the $112.43 high mark will offer a long entry opportunity for interested investors.
Adding to this, the Quant price may continue the bullish correction trend and this may break the $117.89 previous high which might possibly reach the $150.00 resistance value in the coming days in its long-term perspective.
QNTUSD Medium-term Trend: Bearish (4H chart)
The price of Quant is in a bearish move in its medium-term time frame. The prices are seen slightly below the moving averages. However, the coin prices can be seen in green moving towards the overhead supply and this may break up the $117.89 value soon to invalidate the bearish thesis.
The price of QNTUSD at the $87.71 high mark below the EMA-50 as the 4-hour chart opens today indicates the return of the long traders to stage a play and dominate the market actions.
Further, if the bulls could push higher and additional selling power is prevented, the price may likely break the previous high of $94.16 value resulting in more intraday gains for buyers.
Additionally, the Quant market is showing more upside possibilities as indicated by the momentum indicator pointing upwards; we can certainly expect more gains and strength from the coin.
Hence, the pair may likely grow to break up the previous supply and further extend to a $150.00 high mark in the days ahead in its medium-term forecast.
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