Quant Price Forecast: May 14
The Quant price forecast is for the market to charge towards the upper border of the ranging channel in an attempt for a breakout.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $155.70, $125.25, $115.00
Zones of Demand: $106.90, $101.30, $88.70
The Quant market has reached a strong support level at $101.30, which is helping the buyers break out from the descending channel. Thus, the coin has bounced off the support level and is now surging. The signals are positive, and more buyers will likely enter the market to strengthen it further.
Quant Price Forecast: QNT/USD Outlook
The Quant market currently has a downward-flowing outlook. The price has been trending downward since failing to breach the $134.20 resistance level.
Nevertheless, there are some new developments. The coin has now dropped to a major demand zone at $101.30, where buyers are arrayed and have begun influencing the market.
The price has bounced off the $101.30 support level and is charging toward the upper border of its ranging channel. As a result, the EFI (Elders Force Index) line has risen rapidly and is about to cross the zero level.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The bullish movement of the market is not yet strong enough to cause the Parabolic SAR (Stop and Reverse) on the daily chart to switch below the candlesticks. However, in the 4-hour timeframe, the price charged upward, and the dots lined up below the candles.
Also on the lower timeframe, the EFI (Elders Force Index) has zigzagged upward till it rises above the zero level into a positive level. It shows that much is being done by the buyers in the background to lift the market. With strong support at $101.30, it is expected that the coin will look to break the upper border of the channel and violate the $115.00 level.
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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