Quant Price Forecast: August 23
The Quant (QNTUSD) price is resuming a fresh uptrend and is likely to grow more which is an opportunity for long investors. Having finished the downward correction, the crypto might likely continue its upside move if the current support at $99.56 value holds, and the daily chart closes above the $152.00 resistance level, then there is a high probability of the price going up to its recent swing high, which is $165.00 resistance trend line.
Key Levels:
Resistance Levels: $120.00, $130.00, $140.00
Support Levels: $98.00, $97.00, $96.00
QNTUSD Long-term Trend: Bullish (Daily chart)
The QNTUSD pair is in a bullish trend market zone in its higher time frame, as seen from the chart above. The price is currently recovering and trades above the EMA-9 with its wick touching the EMA-50. This is an indication of an uptrend.
The bullish reversal at a $99.06 high value on the 18th of August has sustained the crypto above the trend line in its recent high.
As a result of price rejection in the previous action, buyers have been able to resume a fresh uptrend by pushing the price of Quant higher to a $101.24 high level above the EMA-9 as the daily session opens today.
In case the market sentiment takes a further bullish turn, a breakout above the $165.00 supply level will invalidate the bearish thesis.
Notably, the price of QNTUSD which is pointing up on the daily stochastic means that the buying traders might continue with the uptrend.
It is therefore expected that the buy investors will move the price action up and may likely hit the $400.00 upper resistance level soon in its long-term time frame.
QNTUSD Medium-term Trend): Bullish (4H chart)
QNTUSD Resumes Fresh Uptrend
QNTUSD is at the moment trading in the bullish trend market in the medium-term outlook. The price currently trades above the EMA-9. This breakout triggers a smooth bull cycle pattern, which in theory, should lead the costs to an overhead trend line.
The coin has been having a series of higher highs and higher lows which has made it capable for the price to remain stronger in an upward trend in its recent high.
Earlier today, the long traders resumed an uptrend by moving the price of Quant to a high of $100.40 which further increases to the $101.24 high value above the EMA-9. This current trend will enable the price to remain on the upside and rise or break out to the upside. This however creates a substantial area of interest for buyers.
Additionally, the pair pointing up on the daily stochastic, means that the buying pressure may continue, and suggests a possible recovery of the $400.00 supply level in the coming days in the medium-term time frame.
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