Quant Price Forecast: Quant Price Will Reverse After Bouncing off $135.90

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Quant Price Forecast: November 7

Quant price forecast is that the QNTUSD price will have to touch down on the demand level at $135.870 to resume its uptrend.

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

Key Levels:
Zones of Supply: $86.20, $109.70, $209.40
Zones of Demand: $39.40, $44.10, 135.90

Quant Price Forecast: After Bouncing on $135.90, Quant Price Should ReverseEver since the Quant market lost the momentum that drove it above $200 on the 17th, the market has been looking for a stable support level. And the $136 level appears to be a strong point from which the market can bounce back up.

Quant Price Forecast: QNT/USD Outlook

The Relative Strength Index indicates that the market has gone off its bullish trend as the indicator lines have crossed below the center. This will be in line with the market’s move to revisit a lower price level to accommodate more buyers.

The True Strength Index also, made a nosedive toward the signal line but has yet to cross this line. This is because the market has only moved to retest and continue its upward trajectory. Hence, the indicator is yet to consider the downward motion an exact bearish trend.

Furthermore, despite the recent price retracement, the Quant market is considered bullish by the 89-period SMA (simple moving average). The SMA mutes the effect of trend fluctuations, as the price is still largely considered bullish.

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

On the 4-hour chart, TSI indicates that the QNTUSD market is currently oversold, as the indicator has moved below its signal line. More buyers will see this as a very appealing entry point for purchasing trades.

Quant Price Forecast: After Bouncing on $135.90, Quant Price Should Reverse

On the other hand, the RSI has only made a further decline toward its base. It has, however, yet to reach an oversold point. But with other indications considered, the market can be expected to continue its sojourn to the nearest support level, from where a major bounce back could be expected.

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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.