Quant Price Forecast: QNTUSD Is Expected to Lunge Back to Break the $222.70 Level

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RESULTS

Quant Price Forecast: October 19

The Quant price forecast is for the market to immediately plunge back towards the $222.70 key level after the first rejection.

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

Key Levels:
Zones of supply: $42.40, $88.70, $155.70
Zones of Demand: $222.70, $260.00, $352.10

Quant remains very bullish in orientation although it just suffered rejection at a significant resistance zone. As a result, there is a high expectation for the coin to bounce back immediately to test the resistance level again. The market is expected to lunge upward with stronger momentum, which will be gotten from the support level from which it bounces.

Quant Price Forecast: QNT/USD Outlook

The Quant is moving in a wave-like pattern in an upward direction after bouncing off the 42.42 support level. A couple of price levels have been violated on the road to reaching the $227.70 resistance level.

The price takes a hit at that level and retraces. Quant is currently seeking the most sufficient support system through which it will bounce back immediately to retest the resistance level.

The EFI (Elders Force Index) indicator lets us see that the market is still very much bullish in orientation as its powerline remains at a positive value. The coin is likely to bounce off the confluence of 155.70 and the Envelope mid-line.

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

The 4-hour Quant chart shows how the coin demonstrates its bullishness, and that is by riding above the middle line of the Envelope indicator and at the same time stretching the upper line of the Envelope. The rejection at $227.70 has, however, made the candlesticks drop beneath the middle line of the Envelope indicator.

The price can be seen immediately trying to recover back above the middle line. The EFI power line also remains at a positive value. These indicators lend credence to the fact that Quant is still very bullish-minded and will recover to retest the resistance level at $227.70. A breakthrough will set the price on course to reach even higher levels.

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