Quant Price Forecast: March 8
The Quant price forecast is for the market to shift its gaze to using the $115.00 key support for a breakout after dropping below $125.25.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $155.70, $222.70
Zones of Demand: $125.25, $$115.00
The Quant market is still on course for a breakout. The bullish flag formation that it conforms to will ensure the breakout is to the upside of the market. The major change is that that breakout will no longer happen from $125.25 but now from the $115.00 support level.
Quant Price Forecast: QNT/USD Outlook
The Quant buyers are trying to play a counterattack as they conform to a flag pattern to overturn the downward pressure on the market.
The flag formation commenced immediately after the price couldn’t force itself beyond the $155.70 resistance level. Therefore, the market had been moving downward in a parallel channel.
The goal was to spring up from $125.25, but the gaze has been readjusted to a slightly lower level at $115.00. After the price bounced down from the upper channel border, the Stochastic has been perambulating around the oversold region border.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The Parabolic SAR (Stop and Reverse) dots on the daily chart are well aligned above the candlesticks as they descend to lower price levels. The dots are more alternative on the 4-hour chart, but more are above than below to signify the same drop in the market.
The Stochastic lines on the 4-hour timeframe are just like those on the 1-day timeframe. The latest plunge to the parallel channel middle line has a Stochastic drop to the oversold region and fluctuates about its borders. Again, the plunge in price is to the buyers’ benefit because a stronger rally is expected due to the bullish flag. The rally might take place at $115.00.
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