Quant Price Forecast: QNTUSD Displays a Bullish Reversal Pattern

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Quant Price Forecast: December 23

The Quant price forecast is that the market will complete a bullish reversal towards the resistance level. This is anticipated, as the market has already shown reversal chart patterns.

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

Key Levels:
Zones of supply: $111.00, $155.70, $222.70
Zones of Demand: $42.40, $88.70, $101.30

Quant Price Forecast: QNTUSD Displays a Bullish Reversal Pattern

The Quant market remains structured for an upward movement but is, however, caught up in consolidation between the $125.25 resistance level and the $101.30 demand level. Currently, the price has routinely dropped to the support level, and it is due for another price rise. Buyers will look to capitalize on this by driving the coin aggressively out of consolidation and toward the previous resistance level of $227.70.

Quant Price Forecast: QNT/USD Outlook

The general structure of the Quant market still predisposes it to an upward movement despite its current hitch. Since dropping from the $227.70 resistance level, the price has been confined to consolidation.

Despite being in consolidation, the bulls still want more. They even breached the supply level at the beginning of the month, but they weren’t able to hold above it.

The coin has now dropped to the support level and is already showing the spinning top and Doji candlesticks, which are reversal candlesticks. The Stochastic lines are about to rise from the oversold region.

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

Still, on the daily chart, the RSI (Relative Strength Index) line has stopped dipping and is now moving more laterally in readiness to begin an upward move. On the 4-hour chart, the RSI line has bounced up to the middle line, where it pulls back a little before continuing its upward mobility.

Quant Price Forecast: QNTUSD displays bullish reversal pattern

The movement of the Stochastic Oscillator lines on the 4-hour chart is similar to that of the RSI in that it has bounced upward to the border of the overbought region, where the line is now pulling back before another upward surge. The buyers are expected to fully exploit their turn to drive the market up and will be looking to break the $125.25 supply level in the process.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.