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Quant Price Forecast: May 16
The Quant price forecast is for the bears to pull the market out of equilibrium ahead of a possible market reversal at the significance level.
Quant Long-Term Trend: Bullish (1-day Chart)
Key Levels:
Zones of supply: $95.80, $107.40, $117.60, $1153.50
Zones of Demand: $87.60, 75.50, $62.30
The Quant market remains in a state of equilibrium even at the time of writing. Notwithstanding, there is an element of bearish sentiment in the market. This can be attributed to the fact that the market is in decline after experiencing rejection from around $142.10. This caused a continuous slump through the key levels to $87.60. Bullish attempts were further quelled at $117.60 before dropping back to around $95.80 where is it now fluctuating.
Quant Price Forecast: QNT/USD Outlook
The Quant market grapples with an equilibrium state, overshadowed by prevailing bearish sentiment.
Before the present fluctuation, the market was on a downward trajectory since facing rejection near $142.10. This decline persisted through crucial levels, bottoming out at $87.60.
Further bullish attempts faltered at $117.60, leading to a retreat to approximately $95.80, where the market oscillates.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
Crypto signals from indicators such as the EFI (Elders Force Index) on the daily chart whose power line depicts a swift recovery towards the equilibrium level, yet lingering marginally below it, suggests a prevailing bearish bias. Additionally, the Parabolic SAR (Stop and Reverse) displays more dots above the zero level, indicative of the lingering impact of the market crash from $142.10.
On the 4-hour timeframe, the consolidation effect becomes more apparent. The EFI indicator oscillates around the zero level, briefly dipping below it before swiftly rebounding. Similarly, the Parabolic SAR dots alternate around the candlesticks, recently transitioning above the candles after an extended period below. These patterns imply a potential further decline, possibly towards $87.60, before a potential resurgence.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.
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