Quant Price Forecast: February 17
QNTUSD‘s price remains bullish negotiating the $450.00 upper resistance value. Thus, a sharp breakout and closure above the $227.00 level will invalidate any bearish thesis and the price might hit the high of $450.00 upper resistance level and beyond.
Key Levels:
Resistance Levels: $233.00, $234.00, $235.00
Support Levels: $115.00, $114.00, $113.00
QNTUSD Long-term Trend: Bullish (Daily chart)
Upward pressure still dominates the QNTUSD pair in the higher time frame. The coin price is now strongly trading above the moving averages with huge volumes from the bulls. Thus, the recent market structure has favored the bulls.
Today, the bulls recorded an increase in buying action from the $138.72 level to the $142.00 supply level above the moving average lines on the daily chart 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.
Thus, evidence of buyers’ consistency is shown on the daily stochastic which is pointing up, indicating an uptrend. This implies that the price of Quant is still going up and in this case, the next recovery target might possibly be the $450.00 upper resistance level in the nearby days and beyond in its higher time frame.
QNTUSD Medium-term Trend: Bullish (4H chart)
The QNTUSD pair portrays a bullish market trend in its medium-term outlook. The price responded to the shift in the market structure and is currently above the moving averages. 
The bulls’ involvement in the market actions to the $137.73 high level during the previous action has made the coin remain stronger above the supply trend levels.
Earlier today, the bulls’ action increases the coin price up to the $142.00 high mark above the two EMAs even as the 4-hourly session opened today. Sellers overridden this pattern and dropped the price to a low of $137.06 value. Meanwhile, the current price at a $137.06 low value above the supply trend lines has not stale the market condition of the crypto. Thus, traders who buy the coin at the present trend will also make gains in the future.
Hence, the price of Quant may likely reverse soon and face upsides if the buy investors should add extra effort to their buying activities in the market. Thus, a break above the $163.14 previous swing high would intensify high buying pressure on the crypto, this may further enable the coin price to reach the $450.00 upper resistance trend levels in the days ahead in its medium-term outlook.
Place winning Quant trades with us. Get QNT here
Leave a Reply