Quant Price Forecast: QNTUSD Has Strong Breakout Potential

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RESULTS

Quant Price Forecast: February 24

The Quant price forecast is for the market to drive upward again in anticipation of breaking out of consolidation.

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

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

The Quant fell back to the support level as an option to boost its bullish prospects; however, the price is stuck at a lower resistance of $147.60. The momentum remains with the bulls, and they will take advantage of a current drop to reinforce again so that the rise in consolidation might break through the resistance levels.

Quant Price Forecast: QNT/USD Outlook

The Quant market went head-on against the $155.70 resistance level on January 25. However, although it had previously violated several barriers, it did not break the $155.70 barrier.

The buyers, who fuelled the market’s rise, were exhausted. Once they couldn’t break through the key level, the logical move was to seek support for a retest.

Nevertheless, the coin has been held up at $147.60 as it was rising for a retest. Since then, the price has been steadily consolidating. As such, the Parabolic SAR (Stop and Reverse) dots are alternating around the coin.

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

Despite the current range of movement in the market, the MACD (Moving Average Convergence Divergence) indicator is swaying in favor of the buying base. The line remains predominantly above zero, although the histogram bars are bearish.

Incidentally, the Parabolic SAR dots on the 4-hour charts seem to have more dots above the market than below it. This confirms the current price decline due to consolidation. And as a result, the MACD lines of the 4-hour chart have plunged below the zero level. There is currently a confluence of the lines at its tip, suggesting an imminent price rise.

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