Quant Price Forecast: March 24
The Quant price forecast is that the market will retest the upper border of its flag channel and rally. This means that the QNT price is expected to rise and approach the upper limit of the range defined by the flag pattern.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $155.70, $147.60, $134.20
Zones of Demand: $101.30, $125.25, $$115.00
The Quant buyers need an extra source of strength to continue the expected market rally. The price has been thus far confined to between $134.20 and $125.25. However, the market has now decided to plunge through the support in the search for a trigger that will help start a rally. The destination is at the upper border of the former channel. From here, Quant is expected to gain strength and push beyond the $134.20 key level.
Quant Price Forecast: QNT/USD Outlook
Quant finished the month of January by committing itself to a descending channel. It then undulated within the channel up until mid-March, after which it rose strongly to defy the upper border of the channel.
Due to the strength with which the price broke out, the buyers became exhausted and didn’t rise beyond the $134.20 key level. The price has since been ranging, with $125.25 acting as support.
Nevertheless, the coin has fallen below the support level, and the buyers are hoping to find a trigger at the upper border of the former channel. As such, the MACD lines may slide further laterally before rising above the zero level.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
On the 4-hour chart, the MACD (Moving Average Convergence Divergence) lines, which had hitherto risen above the zero level, have gradually descended below the zero level in response to the drop of the price below the $125.25 support level. The price is not approaching the upper border of the descending channel.
Meanwhile, the Parabolic SAR (Stop and Reverse) has just switched above the daily candles in confirmation of the descent of the price. Also on the 4-hour chart, the indicator has more dots above the candles than below. The goal is to rebound off the strong border of the descending channel, after which buyers can gain strength to rally the market beyond the $134.20 key level.
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