Quant Price Forecast: QNTUSD Attempts to Accelerate its Consolidation Phase and Cause a Breakout

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Quant Price Forecast: December 30

The Quant price forecast is for the market to hasten its consolidation process to break out soon enough.

Quant Long-Term Trend: Bullish (1-Day Chart)

Key Levels:
Zones of supply: $155.70, $222.70, $111.00
Zones of Demand: $20.00, $42.40, $88.70

QNTUSD Attempts to Accelerate Consolidation Phase and Cause a Breakout

QNTUSD is attempting to hasten its consolidation process to breakout soon enough. Initially, the price ranged between $125.25 at the resistance level and $101.30 at the support level. However, we can see that the price has recently limited itself to $115.00 as a resistance level and has been ranging with the support level to quickly generate momentum that can aid in a price breakout.

Quant Price Forecast: QNT/USD Outlook

The Quant market is currently in a range phase. A strong blockage of the price at the $227.70 supply zone has contributed to the withdrawal into consolidation between $101.30 and $125.25.

The market, therefore, started its range-finding process on the 9th of November, and this has continued up until now. However, QNTUSD is attempting to hasten the consolidation process by ranging only in the lower half of the consolidation channel.

Hence, since mid-December until now, the price has limited itself below the $115.00 key level. This automatically means that the price has not risen above the middle line of the Envelope indicator since then.

QNT/USD Medium-Term Trend: Bullish (4-hour chart)

The EFI (Elders Force Index) power line on the daily chart shows market equilibrium as the line is lying close to the middle line, though tilted to the negative value. Nevertheless, on the 4-hour chart, the EFI power line is tilted toward the bullish side.

QNTUSD Attempts to Accelerate Consolidation Phase and Cause a Breakout

The Envelope indicator on the 4-hour chart has adjusted itself to the lower half of the consolidation channel, and the candles are ranging through it. As the price is limited to the lower half of the consolidation zone, this will help generate more momentum in the market, which the buyers can take advantage of to drive the price out of consolidation and towards $227.70.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.