Quant Price Forecast: May 13
The Quant (QNTUSD) price is very likely to face the positive side and might possibly retest the $163.14 supply level soon after completing the dip lows. Therefore, the coin price breakup from the support trend line at a $103.58 value will release the trapped bullish momentum. The upcoming bullish pattern may push the coin price to the $350.00 upper resistance mark and beyond.
Key Levels:
Resistance Levels: $180.00, $190.00, $200.00
Support Levels: $106.00, $105.00, $104.00
QNTUSD Long-term Trend: Bearish (Daily chart)
QNTUSD pair is in a bearish market zone in its higher time frame as can be seen from the chart above. This is because the sell traders are now involved in the order flow. The price is currently recovering and trades below the resistance trend levels. Thus, is an indication of a bearish trend.
Meanwhile, the current trend will soon end as the buy traders are now set in the market to influence the buying tendency.
The increase in the selling pressure by the bears at the $103.58 low level during yesterday’s session has contributed to its bearish trend in its recent high price level.
Today, the bulls made a correction to the $107.22 supply value below the resistance trend lines as a pullback to invalidate the bearish theory. This assures or confirms the bull’s gradual return to the market.
However, long traders can join the market or invest in the crypto with the current trend and buy at a lower rate for more gains in the future. This will reflect an increase in the trend momentum.
Additionally, a rise in the upcoming rally and breakout above the $146.37 high value may turn around the market price of Quant and the recovery pattern might possibly retest the $163.14 supply value to hit the $350.00 upper supply trend line in the days ahead in its higher time frame.
QNTUSD Medium-term Trend: Bullish (4H chart)
QNTUSD Price to Retest the $163.14 Supply Value
The coin is now displaying a bullish posture in its medium-term outlook. This is due to the high inflow from the long traders.
The increase in the momentum by the bulls at the $105.24 supply value during yesterday’s session has enabled the Quant price to stay strong above the resistance lines.
Today, the bulls made an increase in buying action to the $106.65 resistance level above the EMA-9 as the 4-hourly chart begins as the bulls took to their stand in the market.
This bullish correction, however, indicates a gradual improvement in market sentiment and leads to more intraday gains in assets to higher prices.
Similarly, a further rise in the market price of the coin is possible as indicated by the daily stochastic pointing up, therefore, if the buy traders can trigger their buying pressure and break up the $125.41 previous swing high, the price might possibly rise further to the $350.00 supply trend mark soon in its medium-term time frame.
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