Quant Price Forecast: December 22
The Quant (QNTUSD) price may likely rise from support to retest the $199.500 previous high soon as the market is oversold already. The crypto may likely face the upside if buyers can exert more push and exchange hands with the bears at the $107.000 support value, the price may turn upside and retest the $199.500 high level and beyond.
Key Levels:
Resistance Levels: $200.200, $200.300, $200.400
Support Levels: $108.000, $107.000, $106.000
QNTUSD Long-term Trend: Bearish (Daily chart)
The QNTUSD pair is in a bearish market at the moment on the daily chart due to the interference from the sell traders in the market. Sellers were involved as the coin price was driven low to the $107.912 value during the previous action.
As a result of low bullish momentum, the coin price now trades at the $107.000 support level below the two EMAs as the daily chart resumes today. However, traders can also buy the coin at this trend at a lower price and make profits.
Thus, there may likely be an immediate reversal at the mentioned support if buyers could change their orientation and put extra effort into their buying activities.
Similarly, the price of Quant is oversold already. This means that the selling pressure is exhausted and the buy traders may likely resume the bullish correction pattern soon. Hence, we have a bullish bias that the coin price will turn upsides and rise further.
As a result of this, the price may likely retest its previous high at the $199.500 value which might possibly extend to the $350.000 overhead resistance value in the days ahead in its long-term outlook.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD Price to Retest the $199.500 High Mark Soon
The Quant market price is in a bearish trend zone in its medium-term outlook. This is due to the inflows from the short traders. The price drop to the $104.988 low value during the previous session has made the coin remain in the bearish trend at the moment.
Today, the coin price at the $107.000 support value below the moving averages as the 4-hourly session opens is a result of a low bullish impact in the market. If the bulls should increase their price action, and bullish momentum is sustained, the price could retest the $199.500 high level.
Similarly, further upsides are likely as the coin price is pointing upward in the oversold region of the daily stochastic, this means that the price may likely rise from the current support to commence the bullish race, which might extend the price of QNTUSD to the $350.000 supply value in the days ahead in the medium-term outlook.
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