Quant Price Forecast: October 18
The QNTUSD pair currently is facing an increase in buying pressure moving close to the $120.00 supply levels. A possible breakout from this resistance will offer a higher footing for prices to bolster further price rally. The price will most likely continue its bullish correction and the price could go higher to retest its previous swing high at the $115.00 resistance level, which might further expose the coin price to hit the $120.00 upper resistance value. Hence, a big turnaround and a buy signal for the coin investors.
Key Levels:
Resistance Levels: $100.00, $102.00, $104.00
Support Levels: $85.00, $84.00, $83.00
QNTUSD Long-term Trend: Bearish (Daily chart)
Quant price portrays a bearish market trend in its long-term outlook. The price responded to the shift in the market structure and is currently below the moving averages. This will soon be invalidated as the rising pattern has just resumed and the market price is moving close to the upper resistance levels.
The price drop to the $85.19 low value during the previous action has made the coin price trade below the supply levels in its recent high.
QNTUSD on the daily chart is currently facing resistance and trading at the $87.57 correction level. This implies that investors are active and ready to move the price up to a significant level at the upside. Further, the rising prices reclaimed more confirmation for a bullish recovery.
In addition, the daily stochastic indicates an upward trend as the price of Quant is moving close to the resistance trend levels, this means that the buy investors may likely continue with the bull run and the target might be close to the $120.00 resistance level soon in its long-term outlook.
QNTUSD Medium-term Trend: Bullish (4H chart)
QNTUSD Price Moving Close to the $120.00 Supply Value
The currency pair’s orientation trades in a bullish market in its medium-term outlook. The price of QNTUSD is seen above the EMA-50 and moving close to the upper resistance area, which confirms its bullish growth.
The bulls’ pressure on the currency pair at the $87.51 supply value in the past few hours has made it possible for the price to remain in an upward trend zone in its recent high.
Despite the interactions from the short traders, the bulls caused a rise to a $87.57 high level shortly after the commencement of the 4-hour session opened today. This shows that the bulls are actually buying at this level.
Hence, staying above the supply levels indicates a strong possibility for a bullish correction. A strong breakup above the $96.65 resistance point would strengthen the bullish pressure.
Additionally, the price of Quant which is moving close to the upper resistance area also suggests an uptrend on the daily signal. Hence, there may possibly be a further rise in the crypto price if the current support level at $86.03 holds. The price action may head to $120.00 supply level and beyond in its medium-term perspective.
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