Quant Price Forecast: December 6
The Quant market is experiencing high bullish pressure and remains stable at the moment. The coin price recovery might reach the $120.00 resistance level as it is currently on a bullish streak and remains stable. The Bulls are putting a lot of pressure on the coin. As a result, a sharp breakout and close above the previous high point at the $111.13 value will invalidate any bearish thesis, and the price could reach a high at the $120.00 resistance level and beyond.
Key Levels:
Resistance Levels: $101.00, $102.00, $103.00
Support Levels: $95.00, $94.00, $93.00
QNTUSD Long-term Trend: Bullish (Daily chart)
QNTUSD remains bullish on the higher time frames. The market shows that the price may now be trading in a new ascending channel and the price recovery might reach the overhead supply.
The bulls were able to push the crypto price up to the $102.29 resistance value in the last few days and have enhanced the price to stay above the supply trend line in its recent high.
The coin price finds a reliable resistance at around $103.49 level above the EMA-50, resulting in intraday gains. Hence, staying above the EMA-50 indicates a strong possibility for a bullish correction.
Therefore should the bulls increase their tension in the market, the price recovery might reach the key resistance level of around $111.13.
Adding to this, the momentum indicator which is pointing up indicates that the price of QNTUSD is in an uptrend and might remain in that direction to reach the $120.00 supply level and beyond soon in the higher time frame.
QNTUSD Medium-term Trend: Bullish (4H chart)
QNTUSD Price Recovery to Reach the $120.00 Supply Level
QNTUSD pair remains in a bullish trend in its medium-term outlook. The Bulls are trying not to fall this time around. Further, the coin prices are traded above the supply trend levels and this might reach the upper resistance level.
In the previous actions the coin has been having high interference from buyers which made it easier for the crypto to maintain stable upside moves in its recent high.
Today’s 4-hour chart shows a broader recovery in prices. As the bulls took their stand in the market, the price of Quant jumped up to a $103.49 high level above the moving averages.
This bullish correction, on the other hand, indicates a gradual improvement in market sentiment, which leads to more intraday gains and higher prices for assets.
In addition, more upsides are still coming as shown by the stochastic oscillator pointing upwards to indicate an uptrend. With the look of things, the price recovery might reach the $120.00 high value in no long time in the medium-term time frame.
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