Quant Price Forecast: July 23
The Quant price forecast is for the market to breach the $117.60 resistance using a triangle structure and enter a bullish phase.
Quant Long-Term Trend: Bullish (1-day Chart)
Key Levels:
Zones of supply: $117.60, $149.60, $167.10
Zones of Demand: $96.90, $87.60, $75.50
Quant buyers are currently in the second phase of transitioning the market to a bullish trend. They successfully halted bearishness at the $96.90 demand zone. However, the price is facing strong resistance at $117.60, leading to the formation of a triangle pattern to build momentum for a potential rally.
Quant Price Forecast: QNT/USD Outlook
The buyers of Quant are actively working to transition the market into a bullish phase, and their first successful accomplishment was halting the bearish trend at the $96.90 demand zone.
However, the price has encountered resistance at the $117.60 level, hindering an immediate shift to bullish momentum. As a result, the price is now consolidating within a triangle pattern, a formation often seen as a precursor to a significant price movement.
On the daily chart, the Bollinger Bands are constricting along the border of the triangle as the price gradually tapers towards the tip, suggesting a period of decreased volatility and building anticipation for an impending price breakout.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
Meanwhile, the EFI (Elders Force Index) power line on the daily chart is fluctuating around the zero level, reflecting the market’s indecision and the balanced forces between buyers and sellers. Similarly, the EFI line on the shorter timeframe is moving laterally along the equilibrium line, indicating a temporary equilibrium in buying and selling pressures.
Moreover, the Bollinger Bands have further constricted around the candles, signaling an imminent breakout. Given the current setup, the anticipated breakout is expected to be on the upside, potentially propelling the price to breach the stubborn resistance at $117.60. If successful, this breakout could provide the necessary momentum to initiate a sustained bullish rally.
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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