Quant Price Forecast: December 12
The QNTUSD price is prone to price reversal at the $119.955 low value as the crypto market now approaches the oversold region. In case the buy traders exchange hands with the bears at the mentioned support mark, the coin price may likely face the upsides and extend the bullish correction race to hit the $300.000 resistance level and beyond.
Key Levels:
Resistance Levels: $233.000, $234.000, $235.000
Support Levels: $119.200, $119.100, $119.000 
QNTUSD Long-term Trend: Bearish (Daily chart)
The Quant market price is in a bearish trend zone in its long-term outlook. Since December 5, the coin has been having high interference from sellers which really made it a bit difficult for the cryptocurrency to maintain stable upside moves. In previous price actions, the cryptocurrency has been fluctuating between the moving averages.
Due to the influence of the sell traders, the coin price now found support at the $119.955 value below the moving average lines as the daily chart opens today.
However, this has not disrupted traders from investing in the coin. After all, traders who invest in the coin during a bearish market will also make profits.
Meanwhile, the price of QNTUSD may likely favor the bulls soon as the sellers will soon be exhausted as indicated by the daily signal which is approaching the oversold region. If this is achieved, the coin market will be bombarded by the buy investors and the coin price might be pushed up to reach the $300.000 resistance value in the days ahead in its long-term perspective.
QNTUSD Short-term Trend: Bearish (4H chart)
QNTUSD Price to Reverse at the $119.955 Support Value
The Quant price is also trading below the supply trend mark in the medium-term perspective. The short traders are also involved. This shows that the coin is in a bearish market zone.
The bulls are not relenting, an increase in price to the $125.358 high value above the two EMAs as the 4-hourly session opens today, shows that the buy traders are actually on top of the market at the moment. However, the momentum was lost as the bears now dropped the price down to a low of $119.955 value slightly below the moving average. If the bulls should change their orientation and push the price higher, closing above the current resistance level will invalidate any further bearish thesis.
Further, price rejection is certain at the $119.955 support value as the market now approaches the oversold region. This will enable the bulls to take over from there and the $300.000 at the upsides might be the target in the coming days in its medium-term outlook.
Place winning Quant trades with us. Get QNT here
Leave a Reply