Quant Price Forecast: QNT/USD to Push Through Consolidation

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RESULTS

Quant Price Forecast: December 19

The Quant price forecast is for the buyers to facilitate the exit of the ranging phase by jerking the price above the resistance level.

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

Key Levels:
Zones of supply: $155.70, $222.70, $111.00
Zones of Demand: $20.00, $42.40, $88.70

QNTUSD is accumulating through a consolidation zone after it didn’t sufficiently break down the resistance despite several trials. The coin once breached the resistance level, but it failed to stabilize above it. This led the price to slip back into the ranging phase. Nevertheless, the buyers are active and are poised to influence the market to exit the range.

Quant Price Forecast: QNT/USD Outlook

The Quant market has been confined to a lateral movement for more than a month. This is because it has thus far failed to bypass the $125.25 supply level.

At present, the coin has gone back to the demand level, which keeps the market afloat from below as it keeps trading laterally.

The EMA period 14 (Exponential Moving Average) is aligned above the daily candlesticks as a result of the candles’ drop to the demand level in accumulation.

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

There has been little to no change in the momentum level in the market in the 1-day timeframe, and there is a general downtrend. This is made obvious by the Momentum line, which is undulating and has slipped beneath the middle level.

The EMA period 14 remains aligned above the candles on the 4-hour timeframe, while the Momentum line on the same time frame remains to trade laterally, however, with much volatility. As the range widens, it is expected that the coin will rise at some point. The price accumulation is expected to be interrupted soon with a bullish breakout toward $227.70 on the horizon.

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