Quant Price Forecast: March 8
QNTUSD price will rise from the support level and there is a possibility for the pair to experience another bullish reversal price action price could be ready very soon for another upward move potential. If the forces from buyers in the market should increase and the current support level at $121.707 holds, the coin price may possibly retest the $235.000 previous swing high and this may extend to the $350.000 upper high mark and beyond.
Key Levels:
Resistance Levels: $230.100, $230.200, $230.300
Support Levels: $121.300, $120.200, $119.100
QNTUSD Long-term Trend: Bearish (Daily chart)
The QNTUSD pair is showing a bearish display in its long-term perspective. The price responded to the shift in the market structure and is currently below the moving averages.
This is due to the high inflow from the sell traders. However, there is about to be a turnaround for the QNTUSD buy traders.
The price drop to the $121.707 low value during the previous action has made the coin price trade below the supply levels. This will soon be invalidated as the trend has just resumed its rising pattern but has not yet reached its goal.
The crypto rebounded from the mentioned support with a pin bar hammer candle at the $124.766 supply value as the daily chart opens today. This indicates a genuine reversal which may attempt the $235.000 breakout. Further, investors may seize the opportunity now and
buy the coin at a lower price and look for more gains ahead.
Meanwhile, should the bulls prove stronger and increase their buying pressure, the price of Quant may likely rise further to the hit the$350.000 upper resistance level, indicating a strong supply zone for a potential BUY in its higher time frame.
QNTUSD Medium-term Trend: Bullish (4H chart)
QNTUSD Will Rise from Support Level, Buying Time is Near!
The QNTUSD pair is in a bearish movement zone in its medium-term outlook. This is due to the inflow from sellers. Further, the price is gathering momentum and has decided to face the upsides to achieve more gains.
The bulls made a correction to the $124.766 supply value below the two EMAs to resume its uptrend. This will actually encourage the buy traders to invest in the crypto, as possible future gains are certain.
The pair is pointing upwards at around the 53% range of the daily stochastic. It indicates that the Quant price is now in the oversold region of the market. It implies that the selling pressure has ended. We will now be looking into the emergence of buyers in the oversold region of the market.
This crossover could encourage the breakout rally to hit the$350.000 supply level soon in its medium time frame.
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