Quant Price Forecast: May 20
The Quant price is set for another upward drive after a long dip dump by the bears. An increase in buying pressure from the bulls might turn the coin price to upside soon. In case buyers put more additional effort and manage to break up the pattern’s resistance trend line at a $105.38 high value, a possible relief rally may drive the coin market price to the $400.00 resistance mark which will be a relief and a buy signal for the long traders.
Key Levels:
Resistance Levels: $170.00, $180.00, $190.00
Support Levels: $106.00, $105.00, $104.00
QNTUSD Long-term Trend: Bearish (Daily chart)
The Quant price is bearish on the higher time frame. The price currently trades below the two EMAs. This means that the coin is in a downward momentum, this is due to the high impact from sellers.
The high order flow from the bears during yesterday’s session also added to this bearishness. However, the bulls are now set to turn around the trend as the market is now oversold.
The bears dropped the coin price to the $104.20 support value below the moving averages as the daily chart opened today. Meanwhile, the current price at the mentioned support below the supply trend lines has not stale the market condition of the crypto. Thus, traders who buy the coin during the bearish market will also make gains in the future.
Next, more upsides are likely to come up soon as the market is oversold already and the bulls could be set for an upward drive soon. If this is achieved, the price might likely rebound at the current support level to reach a $400.00 supply level in the days ahead in its higher time frame.
QNTUSD Medium-term Trend: Bearish (4H chart)
The coin price still trades in a bearish market in its medium-term perspective. The price bar can be seen trading below the two EMAs, indicating a downtrend.
The bears acted bravely during yesterday’s session by dumping the price of Quant to a $104.98 low value below the moving averages which has made the price stay below the supply trend levels in its recent high.
After completing the low-dips by the bears at the $104.20 low value, the bulls’ successes fully resumed and pushed the price of QNTUSD to a high at the $105.38 trend line after the 4-hourly chart opens today. Moreover, these new moves will actually strengthen the price recovery.
Furthermore, with the daily signal indicating an uptrend, if the buy traders successfully keep the Quant prices above $120.24, the target might be the $400.00 supply level soon in its medium-term time frame.
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