Quant Price Forecast: QNTUSD Buyers Are Strengthening Themselves Through Price Accumulation

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Quant Price Forecast: December 28

The Quant price forecast is for the bulls to keep strengthening themselves as the price accumulates in anticipation of a breakout.

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

Key Levels:
Zones of supply: $125.25, $155.70, $227.70
Zones of Demand: $42.40, $88.70, $101.30

The QNTUSD is continuing to consolidate as the buyer keeps gathering strength. Currently, the price is retracting from the middle line of the consolidation, which is represented by the $111.00 key level. The price is likely to drop back to the $101.30 support level before rebounding. When the bulls reach the peak of their power, the QNTUSD market is expected to break out strongly toward the $227.70 resistance level.

Quant Price Forecast: QNT/USD Outlook

The QNTUSD market can generally be viewed as being on the rise. Buyers wield significant market power. Nevertheless, the market has been stuck in a consolidation phase for a while now.

The consolidation comes after the price didn’t breach the $227.70 resistance level at the first trial. Therefore, the price pulls back to $101.30, with the $125.25 key level limiting it from above.

As the price continues in consolidation, the candlesticks stop short of rising above the middle line of the Bollinger Bands, and it is likely to drop back to the $101.30 support level.

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

The Stochastic Oscillator lines also on the daily chart rose out of the oversold zone but stopped short at the middle line of the chart. On the 4-hour chart, nevertheless, the candles have been in the overbought region of the Stochastic but have now slipped down to the oversold border.

Meanwhile, the price on the 4-hour chart attempts to stretch the upper Bollinger Band but has recoiled back to the middle line of the Bollinger Band. All indications point to a retracement as the price continues its consolidation. The buyers are using this opportunity to gather strength, which they will unleash for a breakout toward the $227.70 resistance.

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