Quant Price Forecast: September 17
The Quant price forecast is for a brief consolidation, which may allow the buyers to get a grip on the market.
Quant Long-Term Trend: Bullish (1-day Chart)
Key Levels:
Zones of supply: $117.60, $96.90
Zones of Demand: $87.60, $75.50
The market’s indecision has been a long time coming. QNTUSD buyers had hoped to overturn the free fall of the price at the significant level of $96.90. They succeeded in halting the decline but labored to push the price beyond $117.60. After a while, the back-and-forth movement led to a triangle consolidation. The buyer’s best chance to pump the coin resulted in a false breakout and it has all been southward since then, with the $96.90 under immense pressure until it was violated.
Quant Price Forecast: QNT/USD Outlook
The QNTUSD market has witnessed a protracted period of indecision, with bears eventually seizing control. Buyers had initially aimed to reverse the downward spiral around the significant level of $96.90.
While they managed to halt the decline temporarily, pushing the price past $117.60 proved challenging. This back-and-forth action led to a triangular consolidation. The buyers’ best attempt to drive the coin’s value higher resulted in a false breakout.
Afterwards was a sustained downtrend that ultimately breached $96.90. The Parabolic SAR (Stop and Reverse) indicator, continually alternated within the market with a higher density of dots above the daily candlesticks, indicating a persistent weakening of buying pressure.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
Meanwhile, the MACD (Moving Average Convergence Divergence) provides an overview of market activity since May, with the line oscillating near equilibrium before descending into negative territory. On the 4-hour chart, a similar pattern emerges as observed on the daily chart. The Parabolic SAR dots continue to exhibit a higher concentration above the candlesticks, reaffirming the bearish sentiment.
However, the MACD line has shown a slight retracement toward the zero line. It suggests that the coin may undergo another brief consolidation phase before determining its next course of action. Market participants are closely monitoring these indicators for potential shifts in sentiment and direction.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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