Quant Price Forecast: QNTUSD Approaches a Strong Convergence Point, Which Will Likely Propel the Market

Quant Price Forecast: December 13

The Quant price forecast is for the market to get the much-needed push to start its upward movement from a strong confluence point.

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

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

Quant is very likely to get its much-needed upward thrust when it lands on a major confluence point in the market. The confluence point is the $111.00 demand level crossing the ascending trendline. The $111.00 support line was responsible for keeping the price below that level at one point, but it has now been converted to a support level. Meanwhile, the price remains obedient to the trendline.

Quant Price Forecast: QNT/USD Outlook

The Quant market is still in the process of engineering a strong upsurge. It is done by tapering through an ascending triangle pattern. This process has lasted for more than a month now.

As the price approaches the tip of the bullish triangle, the candles are also approaching the confluence point at which the ascending trendline crosses the $111.00 support level (which has kept the market up).

As the market approaches the confluence point, the Stochastic Oscillator lines have dropped towards the oversold region. This creates an ideal scenario for the price to skyrocket at the confluence point.

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

The market is currently bordering the 30-period MA (Moving Average) and is set to trade below it. However, we can expect that the MA period 30 will not be able to resist the market and will most likely drop back below the trading level of the market immediately after it shoots off the confluence level.

On the 4-hour chart, the MA period 30 is mostly fluctuating through the market and has risen above the trading level. Meanwhile, the Stochastic lines have just bounced off the overbought borderline downward. If all of the pieces fall into place, the coin is expected to spring off the confluence zone and charge headlong toward the $227.70 resistance.

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