Quant Price Forecast: February 5
The Quant price forecast is for the buyers to bounce back and assault the $155.70 resistance level.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $155.70, $227.70
Zones of Demand: $101.30, $125.25
Quant is reverting to gaining strength at the immediate demand level to relaunch itself against the $155.70 resistance level.
Quant Price Forecast: QNT/USD Outlook
The price has tried over several weeks to break through the $155.70 supply zone, but the zone has remained rather impermeable. However, the coin is now reverting to another strategy.
The Quant market is plotting its way past the $155.70 resistance level, and the latest move is to pull back towards the $125.25 demand level, from where it will rally back upward. Currently, the coin is following a path down toward the demand level. Buyers are accumulating to jump into the market at the demand zone, which will strengthen the coin.
The path back to the $125.25 support level has been plotted. The price has now traded below the MA period 14 (Moving Average) which shows that it has committed to a pullback to the support level.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The Stochastic Oscillator lines on the daily chart have plunged to the border of the oversold region as the price keeps dipping toward the $125.25 demand zone. Meanwhile, on the 4-hour chart, the Stochastic lines are also undulating strongly towards the oversold region.
On the 4-hour chart, the market is fluctuating in a downward direction and is also sliding below the MA period 14, which shows the definite direction of the market. QNTUSD will most likely touchdown at the $125.25 support level before kickstarting a rally back to the $155.70 resistance level.
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