Quant Price Forecast: October 29
The Quant price forecast is for the market to sustain its pullback, after which it is expected to shoot upward again beyond $107.40.
Quant Long-Term Trend: Bullish (1-day Chart)
Key Levels:
Zones of supply: $107.40, $117.60, $131.00
Zones of Demand: $96.90, $87.60, $75.50
Quant buyers are trying to take advantage of the sellers’ exhaustion to stem the bearish tide around $87.60. The bears have gained dominance over the market since mid-August after a breakout from a triangle structure. Since then, the price has descended through the strong $96.90 demand zone to $87.60. At this point, the buyers are trying to resist the bearish pressure for the coin to plunge even lower. Therefore, we can see the price fluctuating around the $87.60 level.
Quant Price Forecast: QNT/USD Outlook
The Quant coin market is currently amid an impressive uptrend, successfully shedding the bearish grip that had been looming.
This resilience has translated into a nearly 30% increase in price, bringing it to the critical level of $107.40. However, at the present juncture, the upward momentum appears to have tapered off.
QNTUSD has slipped below $107.40 and is exhibiting fluctuating behavior just beneath this pivotal threshold. Examining the daily chart, the recent price surge has extended the upper Bollinger Band, a move that may have resulted in a natural pullback due to the bulls’ overexertion.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The Momentum indicator on the daily chart reveals a substantial spike in momentum, although the Momentum line has now shifted into a more horizontal trajectory since the price attained the $107.40 mark. On the 4-hour timeframe, there is a clear reduction in market momentum as evidenced by the candlesticks descending toward the lower Bollinger Band and struggling to push higher.
The Momentum line on the 4-hour chart has also declined, reverting to its lowest point before the notable price upswing. This scenario suggests that bears might attempt to drive the price down to the $96.90 support level before a potential resurgence in price activity. It’s a crucial juncture for the Quant coin, and market participants are keenly watching for further developments.
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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