Quant Market Forecast: January 16
The Quant price forecast is for a strong and aggressive bullish market to keep clearing its way till it reaches the $155.70 resistance and surpasses it.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $125.25, $155.70, $227.70
Zones of Demand: $88.70, $101.30, $115.00
QNTUSD has finally broken out after a session of consolidation. The ranging phase, as expected, helped generate a lot of momentum, which the buyers took advantage of. The price is now heading toward the $155.70 resistance level with consecutive bullish candlesticks. However, it is unlikely that the coin will retest the previous resistance level of $125.25 before continuing to rise.
Quant Price Forecast: QNT/USD Outlook
All the plans of the buyers are finally coming to fruition. The market has had to undergo an extended period of consolidation from early November last year until a few days ago.
The coin was confined primarily between the $125.25 resistance level and the $110.30 support level. However, after a while, the price came under lower resistance at $115.00. It was the breakout from here that eventually led to the breakout from $125.25.
The bulls are growing in leaps and bounds now as the market gyrates toward the $155.70 key level. The Momentum indicator is showing that price momentum is high and increasing.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The EFI (Elders Force Index) power line on the daily chart, while it has shifted above the zero level, shows the buyers have to do more to clear out the sellers and prevent them from clawing back the price anytime soon. Meanwhile, the power line has risen very high on the 4-hour chart.
The Momentum indicator shows that currently, having ascended above the $125.25 resistance level, Quant has its momentum moving in an undulating manner. It is not out of place for the market to pull back from the $125.25 key level to spring further higher toward the $155.70 new resistance level.
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