Quant Price Forecast: QNTUSD Builds Momentum in Consolidation for a Breakout

Quant Price Forecast: January 6

The Quant price forecast predicts that the coin will continue to accumulate, gaining strength in consolidation. This will lead to a stronger breakout very soon.

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

Key Levels:
Zones of supply: $115.00, $125.25, $227.70
Zones of Demand: $42.40, $88.70, $101.30

The Quant market has opted against immediately breaking the $115.00 resistance level and will instead continue in its ranging phase for a little while. This will allow the market to keep generating momentum, which will lead to a strong breakout after a while. Currently, the coin has bounced down off the resistance level and towards the $101.30 support level.

Quant Price Forecast: QNT/USD Outlook

The Quant market is making moves to set itself free from the ranging phase into which it plunged in November last year. The first step is to reduce the length of its cranking movement.

After ranging in the lower half of its ranging channel, the coin has opted against immediately breaking out from the lower half and will keep ranging for a little while, which will surely lead to a stronger breakout.

Hence, the coin bounced from the $115.00 resistance. As a result, the Bollinger Bands continue to contract around the market in the lower half of the ranging channel.

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

Similarly, on the daily chart, the Stochastic Oscillator lines, which have been oscillating below the 50 mark, have stopped short of rising clear above this middle line and have now crossed downward. This shows that the range phase is set to continue.

On the 4-hour chart, the Bollinger Bands have shrunk around the candlesticks and are undulating with it below the $115.00 resistance level. The drop of the candlesticks below the middle Bollinger Band means that the $115.00 resistance will not be breached at this time, and the consolidation is set to continue.

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