Quant Price Forecast: December 16
The Quant (QNTUSD) pair remains strong above the $122.649 supply value as the price stays above the resistance trend lines. In case the bulls should defend the selling pressure and push harder, an increase in the bulls’ momentum may break up the resistance level at $235.000 and this may increase the Quant price to a $400.000 upper high trend line.
Resistance Levels: $200.100, $200.200, $200.300
Support Levels: $123.000, $122.000, $121.000
QNTUSD Long-term Trend: Bullish (Daily chart)
The QNTUSD pair remains bullish on the higher time frames. This is clear as we can see the prices trading above the supply trend lines indicating an uptrend. The coin founds a suitable resistance at the $125.356 value in the previous action which has made it easier for the crypto to remain strong above the resistance zone.
Now, despite the moves by the short traders at the $123.707 support level the coin price still remains strong above the EMA-9 approaching the EMA-50 as the daily chart opens today. This indicates an upward trend. Hence, staying above the resistance trend lines indicates a strong possibility for a bullish correction.
The Quant price indicates the continuation of bullish sentiment as indicated by the daily stochastic which is pointing in an upward direction. This means that the coin may likely face a price rejection at the mentioned support mark. But the downside risk remained uncertain. Thus, the next bulls’ target might be the $400.000 high level as the crypto remains strong above the resistance trend lines in the days ahead in its long-term outlook.
QNTUSD Medium-term Trend: Bullish (4H chart)QNTUSD Remains Strong above the $122.649 Supply Value
Despite the interference of short-term traders in the price flow, the lower time
frame market shows a bullish race. The price of QNTUSD can now be seen above the moving averages. This shows that buyers are currently gaining more strength in the market.
In the previous session, the coin price was trading at the $132.989 resistance value above the two EMAs which has made it capable for the coin to remain above the supply trend line.
However, the inflow from the sell traders has dropped the price of Quant to the $123.707 low level above the resistance lines as the 4-hourly chart resumes today.
This implies that the bulls remain strong and dominant in the market at the present.
Hence, the coin price may likely reverse soon and face the upsides if the buy investors should add extra effort to their buying activities in the market. Thus, a break above the $235.000 previous swing high would intensify high buying pressure on the crypto and this could lead the crypto price to a $400.000 high mark in the days ahead in its medium-term outlook.
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