Quant Price Forecast: July 16
The Quant price forecast is for the market to keep tapering through a triangle structure, which is primed to lead to a breakout on either side.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $117.60, $149.60, $167.10
Zones of Demand: $96.90, $87.60, $75.50
The Quant Bulls are encountering resistance from bearish factors while attempting to drive prices up. Although the downtrend was halted at $96.90, surpassing the $117.60 resistance has proven challenging. Presently, a consolidation phase marked by an accumulation triangle pattern is observed, indicating anticipation for a possible breakout.
Quant Price Forecast: QNT/USD Outlook
Quant buyers are trying to push the price to higher levels, but they still have to contend with the bearish influence in the market.
Therefore, even though the downtrend stopped at $96.90, Quant has been unable to rise beyond the $117.60 resistance.
The market is now accumulating in a triangle and poised for a breakout. The MA period 25 (Moving Average) is traversing within the boundaries of the accumulation triangle on the daily chart to validate the ongoing consolidation.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The Elders Force Index (EFI) power line exhibits fluctuations around the zero level. The price has dropped to a state of equilibrium both in the daily chart and the 4-hour timeframe. This suggests a lack of decisive market momentum, indicating a balanced tug-of-war between buyers and sellers.
Meanwhile, in the 4-hour chart, the MA period 25 displays undulating movements that correspond with the tapering patterns of the candlesticks. This is a period of indecision and a potential turning point in the price action. Investors are to remain alert for a potential breakout that will violate the $117.60 resistance.
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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