Quant Price Forecast: October 18
There is a possibility for the QNTUSD to experience another bullish reversal price action and the price could be ready very soon for another upward move potential. If the forces from the buyers in the market should increase and the current support level at $201.619 holds, the coin price may retest the $300.000 upper high value and beyond.
Resistance Levels: $235.200, $235.300, $235.400
Support Levels: $233.300, $233.200, $233.100
QNTUSD Long-term Trend: Bullish (Daily chart)
Despite the inflows from the sell traders at the time of writing, QNTUSD is trading in an uptrend in its higher time frame making higher highs and moving toward its major resistance. Though the sellers are now involved, the bulls are also battling the resistance at the $235.000 level.
The bulls actually made a jump to the $235.000 supply value above the moving averages during yesterday’s session; this really enables buy traders to sustain the upward rally. The current price of Quant at the $195.739 support level which is above the two EMAs which are fanned apart suggests that the bulls remain dominant in the market. This will give the buy traders the motive to influence the price tendency.
Now, if the price on the daily chart closes above $240.000, then there is a high probability of the price going up to its recent swing high, which is $300.00 soon in its higher time frame.
QNTUSD Medium-term Trend: Bullish (4H chart)QNTUSD Remain Stronger
The coin is also positive in its medium-term time frame, trading in a bullish trend. The price opened lower but managed to trade in green over the past few hours.
The coin price finds reliable resistance at around the $201.619 mark above the two EMAs, resulting in intraday gains as the 4-hourly session resumes today.
However, the bullish growth will face a formidable resistance trend line at the aforementioned mark, which may invalidate the selling pressure.
In addition, further upsides are likely as indicated by the price signal pointing upward in the oversold region of the market. This will compel the buy traders to resume the correction rally fully and this time around the bulls may likely revisit the $300.000 supply level soon in the medium-term time frame.
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