Quant Market Forecast: QNTUSD Recharges Off Support Level

Quant Market Forecast: January 29

The Quant market forecast is for the coin to revert to strong support at $125.25 to gain strength and bypass the $155.70 weekly supply zone.

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

Key Levels:
Zones of supply: $125.25, $155.70, $227.70
Zones of Demand: $88.70, $101.30, $115.00

QNTUSD has been trying to rise above the $155.70 resistance level for a while now. However, the level seems impervious and has blocked all movements above it. The best move to violate the level was on the 24th or 25th of January. Since then, the test has become increasingly weak. The market is already looking to draw some strength from its support level at $125.25 to get back up at the resistance level.

Quant Price Forecast: QNT/USD Outlook

The Quant market remains intent on climbing above the $155.70 resistance level. Before the coin rose to this level, it pulled back to bounce off its former resistance level.

Since then, the buyers have been consistently pushing against the resistance level. Nevertheless, the key level has failed to yield. The process is still ongoing, and the buyers are expected to make a breakthrough.

The MA period 20 (Moving Average) remains below the price candles as a support since the coin moved to push out of consolidation.

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

The market’s momentum peaked before the first retracement to the previous resistance level. Since then, the market has been unable to sustain its momentum. As a result, the momentum line is oscillating in a downward direction. It is a sign that the coin may revert to $125.25 for support.

On the 4-hour chart, after testing the resistance level three times consecutively to make a triple-top chart formation. The pattern has broken the neckline, and the price is set to plummet. As a result, the coin has traded below the 20-day moving average and is now approaching the $125.25 support level. The price drop enables buyers to drive toward the $155.70 resistance with a higher force.

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