Quant Market Forecast: January 9
The Quant price forecast is for increased upward momentum after bulls successfully breach the $115.00 supply level.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $125.25, $155.70, $227.70
Zones of Demand: $88.70, $101.30, $115.00
The plans of the QNTUSD buyers are going as anticipated. The price was initially reduced to the lower level of its general ranging zone. After gaining momentum, the coin has now forced its way through the $115.00 supply zone. The next agenda item will be to strengthen at that level and surge to the $125.25 resistance level to test it and break it also.
Quant Price Forecast: QNT/USD Outlook
In a bid to generate more momentum, the market has limited its movement to ranging between $115.00 as the resistance and $101.30 as the support level. This spanned from mid-December into the new year.
This price is now ready to test itself in the general consolidation zone.
Therefore, it began to push strongly against the $115.00 supply level on the 5th of January. By yesterday, the 8th of January, the coin had breached the supply level.
The price is currently displaying consecutive bullish candles to show bullish strength, and this is marked on the Stochastic Oscillator chart as the lines rise into the overbought zone.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
In breaking above $115.00, the coin has traded above the MA period 20 (Moving Average) on the daily chart, turning it into support for the market. Similarly, on the 4-hour chart, the price leveraged support from the MA period 20 for a steady rise until it broke through the $115.00 resistance level.
The Stochastic Oscillator lines have bounced off the border of the oversold region and risen highly into the overbought region. The lines are now fluctuating around the border. We can expect a small price retracement to settle above the $115.00 key level before the price breaks the next supply at $125.25.
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