Quant Price Forecast: November 26
The Quant price forecast is for the market to keep testing the $107.40 resistance to exploit any weakness for a rally.
Quant Long-Term Trend: Bullish (1-day Chart)
Key Levels:
Zones of supply: $107.40, $117.60
Zones of Demand: $87.60, $96.90
Quant is starting the week with its ongoing price accumulation below the $107.40 significant level. The market had previously slipped to $87.60 under the influence of bears, but bulls revived strongly to pump the market. The pump took the price beyond $96.90, but the coin was firmly rejected at $107.40. An unrelenting bullish base would rebound off $96.90 for another assault but be rejected again. The price has now dropped to rebound again from $96.90, leading to a ranging movement as the market seeks to keep testing the $107.40 resistance for a breakthrough.
Quant Price Forecast: QNT/USD Outlook
QNTUSD commences the week with a phase of price accumulation beneath the significant $107.40 level. Following a dip to $87.60 influenced by bearish activity, a robust bullish revival propelled the market beyond $96.90.
However, persistent rejection occurred at $107.40, leading to a repeated cycle of bullish attempts, rejections, and subsequent rebounds from $96.90.
This has resulted in a ranging movement as the market persistently tests the $107.40 resistance in pursuit of a breakthrough.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
Analyzing the daily chart, the Bollinger Bands are shrinking around the candlesticks, reflecting the ongoing range-bound activity between $107.40 and $96.90. Simultaneously, the Relative Strength Index (RSI) line has shifted from the overbought zone, gradually descending to the middle line of the RSI chart.
The pronounced ranging movement is more conspicuous in the 4-hour timeframe, where the Bollinger Bands have tightened further around the candles, moving in tandem with the accumulation. The RSI line, having dropped from the overbought region, now oscillates between the upper and lower borders. Bulls stand ready to capitalize on any weakness in the resistance, aiming to propel the price higher in the ongoing market dynamics.
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