Quant Price Forecast: May 18
The Quant price forecast is for the coin to leverage the support from $101.30 to overcome the $106.90 resistance level and then shoot upward.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $134.20, $125.25, $115.00
Zones of Demand: $101.30, $87.56, $76.10
The Quant Market is on the verge of converting to a bullish trend after bouncing off the strong support level at $101.30. However, the $106.90 significant level has been acting as a barrier to prevent the price rise. The bulls have started putting pressure on the level, hoping to burst through it to higher price levels.
Quant Price Forecast: QNT/USD Outlook
The Quant market has landed on a stable level from which it can overturn the price uptrend. This phase is already in play; however, the $106.90 key level poses a barrier.
In the last week, the candles have lined up below the key level without much success in breaching it. The plan is to put more pressure on the key level until the price rises above it.
With this move, the Momentum indicator shows it is moving out of a negative position. If this continues, the barrier won’t be able to contain the market again.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The EFI (Elders Force Index) indicator shows progress in the background despite the price drop. The bulls are trying to push the price up against the. The powerline has risen close to the zero line and is about to cross above it.
On the 4-hour chart, the EFI is reacting around the zero level and is closer to rising above the zero level. The Momentum indicator has its line zigzagging in an upward direction. All these show the progression as the bulls keep putting pressure on the $106.90 key level to be able to push much higher.
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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