Quant Price Forecast: July 9
The Quant price forecast is for the market to drop back to a support level for another rise as the market continues ranging.
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 market has successfully ended the bearish regime that has plunged the price by almost 70%. This was done using the $96.90 demand level. However, since the price ended the bearish run, it hasn’t particularly translated into a bullish movement. The buyers have not been as formidable as expected, and this is seen in how the price is now ranging.
Quant Price Forecast: QNT/USD Outlook
It took a bit of struggle before the price could drop below the significant $117.60 level during the bearish run. It eventually gave way to a drop in price
However, the bearishness was stopped at $96.90, from which the coin attempted to kickstart an immediate rise, but the first test at $117.60 led to a massive knockdown back to the support level.
The coin attempted another rise, but it barely reached the resistance before dropping again. The Bollinger Bands are gradually squeezing together as the price looks to be tapering as it moves laterally.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The EFI (Elders Force Index) power line confirms that neither the bulls nor the bears are at an advantage in the market, as the line remains largely at an equilibrium level on the daily and 4-hour charts.
The Bollinger Bands have squeezed further on the candles and are following the tapering movement of the price. The maturity of this tapering movement will likely lead to a breakout either to the upside or the downside, but the bulls will be looking to take advantage of the strong $96.90 demand level to prevent a drop while they try to push the market beyond $117.60.
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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