Quant Price Forecast: January 3
The Quant (QNTUSD) price is set for another upward rally after a long dip dump by the bears. In case the bulls manage to break up the pattern’s resistance trend line at a $125.64 high value, a possible relief rally may drive the coin market price up to the $400.00 resistance mark.
Resistance Levels: $233.00, $234.00, $235.00
Support Levels: $106.00, $105.00, $104.00
QNTUSD Long-term Trend: Bearish (Daily chart)
The momentum on the long-term outlook is in a downtrend. The price bar of the QNTUSD pair can be seen in a green slightly below the two EMAs. Thus, the bulls are set to push us higher from this trend line.
The inflow from the sell traders at the $104.10 support value during yesterday’s session contributed to its bearish momentum. However, the bulls are now in the market to turn around the trend.
Today, the buy traders made a correction at a $106.13 value which further increases to the $106.95 supply mark below the moving averages to resume its uptrend. This indicates an established bull trend.
Likewise, further jumps are possible; the market is indicating an uptrend below the 20% range of the daily stochastic. It indicates that the Quant market is oversold.
This will compel the buying pressure to resume fully and the new bullish pattern may hit the $400.00 upper high mark in the days to come in its long-term outlook.
QNTUSD Medium-term Trend: Bullish (4H chart)QNTUSD Price Set for an Upward Rally
The coin price still trades in a bullish market in its medium-term perspective despite the moves from the short traders.
The bears acted bravely during yesterday’s session by dumping the price of QNTUSD down to a $104.10 low value below the moving averages with a long bearish candle. Thus, the momentum lost after some time while the bulls returned the market price to a bullish section.
After a series of downward moves, the bulls’ successfully resumed and pushed the price of Quant to a high at the $106.21 trend line after the 4-hourly chart opens today. Moreover, these new moves will actually strengthen the price recovery.
In addition, the daily stochastic is in an upward direction, therefore, if the buy traders successfully keep the coin prices above the $125.64 resistance level, the target might be the $400.00 supply level soon in its lower time frame.
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