Quant Price Forecast: QNTUSD Bounces off $125.25, Begins Rally

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Quant Price Forecast: January 19

The Quant price forecast is for the coin to push hard for a rally after it bounces off the $125.25 key level.

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

Key Levels:
Zones of supply: $155.70, $227.70
Zones of Demand: $88.70, $101.30

Quant Price Forecast: QNTUSD Bounces off $125.25, Begins Rally

The Quant buyers are very effective. They have continued their display of strength after violating the $125.25 resistance level. Nevertheless, they got weakened midway toward reaching the $155.70 resistance level. The market then pulled back toward the former $125.25 resistance. Only a little touch was needed to set the price rolling back upwards. The sights are now firmly set on $155.70.

Quant Price Forecast: QNT/USD Outlook

Quant recently broke out of the consolidation zone, and it still had enough momentum in the tank to keep pushing higher till it came closer to the next resistance level at $155.70, and by then the buyers became weary.

The buyers then began to seek a revival at the former resistance level of $125.25. A retracement then ensued, and the coin touched down at the key level.

A little touch was enough, and the buyers are now pumped up for the next rally. All the while, despite the retracement in the market, the EFI (Elders Force Index) does not plunge into a negative value, showing the bulls didn’t let go completely.

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

The RSI (Relative Strength Index) on the daily chart drops out of the oversold region but remains in the bullish half of the chart. On the 4-hour chart, the RSI line drops below the 50 mark but recovers immediately above the middle line as the rally begins.

Quant Price Forecast: QNTUSD Bounces off $125.25, Begins RallyThe EFI power line also is seen to drop into a negative value on the 4-hour chart, but like the RSI, it has bounced back and risen into a positive value immediately. The buyers are showing they needed only a little support to get back on track, and this can be seen in the manner in which they bounced back to continue their rally. The goal is to break the $155.70 key level.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.