Quant Price Forecast: QNTUSD Is Testing the Resistance Level in a Bid to Break Out

Quant Price Forecast: December 14

The Quant price forecast is for the market to try to violate the resistance level that confines the price in the bullish triangle. This will lead to a breakout.

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

Key Levels:

Zones of supply: $155.70, $222.70

Zones of Demand: $42.40, $88.70

Quant is taking the next step as it edges closer to a breakout. After completing another undulation cycle, the price is now actively testing the resistance level, which confines the market in the triangle pattern. A persistent test of the resistance level will lead to a breakout sooner or later after another undulating round.

Quant Price Forecast: QNT/USD Outlook

After the Quant market began accumulation in the ascending triangle pattern, the price severally tested the upper border of the triangle, which coincides with the $125.25 resistance level.

The coin has even violated the resistance once, on the 2nd of December, before slipping back below because its breakout was premature. As the price breakout nears maturity, the testing becomes more persistent.

While the EFI (Elders Force Index) indicator still shows the market close to equilibrium, the Bollinger Bands that have squeezed onto the price chart are set to be broken once the breakout is successful.

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

There is a more positive outlook on the 4-hour chart. The EFI line has lifted from the zero level and is upward abounding. Meanwhile, the candlesticks have bounced off the lower Bollinger Band and are currently pushing against the upper Bollinger Band. The bulls are working in the background.

The market is insistent as its breakout nears maturity; hence, the candles are testing the $125.25 resistance level, which is the upper border of the ascending triangle structure. It is expected that the market will break out sooner or later. When this happens, the coin will ascend to test the next strong resistance level at $227.70.

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