Quant Price Forecast: QNTUSD Moves to Break the Order Block

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RESULTS

Quant Price Forecast: February 20

The Quant price forecast predicts that the price will enter a ranging phase, generating momentum to break through the $155.70 supply level.

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

Key Levels:
Zones of supply: $155.70, $222.70
Zones of Demand: $125.25, $88.70

QNTUSD is likely to begin a ranging phase in an attempt to build up momentum that will push the market above the limiting levels of $147.60 and $155.70, respectively. Observing the price pattern since it violated the previous supply level, it has already been forced to pull back to the support no less than twice. More of this might come as Quant attempts to push higher to $227.70.

Quant Price Forecast: QNT/USD Outlook

When Quant broke its former supply line, it drove higher with a consecutive bullish candle to $147.60. Thereafter, a slight retracement helped it push to the $155.70 main supply level.

The coin didn’t immediately breach the $155.70 supply, which caused a major pullback to retest the former supply line. The price is climbing again but has been held at $147.60. This will likely lead to another pullback.

A third retest of the demand level already points to consolidation. The coin will resort to this to gain momentum. Already the Momentum indicator is showing remarkable progress upward.

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

The Stochastic Oscillator lines up. The daily chart has stopped rising and has maintained a level. This was expected, given the fact that the coin is proceeding on a ranging movement, so the Stochastic lines will likely drop back to support here. The lines on the 4-hour chart are mostly held up in the lower half of the Stochastic chart.

The Moment indicator line shows a drop in momentum, yet it is rising again. The $147.60 price line is increasingly influencing the market, having prevented the rise of the market. However, the coin might switch into a ranging phase to further build momentum that will break the supply levels, including $155.70, and reach a higher of $227.70.

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