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Quant Price Forecast: January 21
The Quant price forecast is for the price to push again beyond the $117.60 key level where the market will overcome bearish pressure.
Quant Long-Term Trend: Bullish (1-day Chart)
Key Levels:
Zones of supply: $117.60, $131.00, $142.10
Zones of Demand: $87.60, $96.90, $107.40
Quant remains below the $117.60 resistance level after it fails to stabilize its market above it. The price dropped more than 30% after it tested the $153.50 resistance level to land back to $107.40 where the market began the rally. The bulls came alive at this point to push the coin higher but nevertheless, bearish pressure lingered. The result of this is that the price is unable to hold a stable position above $117.60 and drops below again.
Quant Price Forecast: QNT/USD Outlook
Quant (QNTUSD) continues to linger below the crucial $117.60 resistance level, unable to establish stability above it.
Following a more than 30% drop subsequent to testing the $153.50 resistance level, the price retreated to $107.40, initiating a rally where bullish efforts struggled against persistent bearish pressure.
This ongoing dynamic prevents the coin from maintaining a secure position above $117.60, resulting in recurrent drops below this level.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The Moving Average period 25 (MA) has transformed into a formidable resistance, aligning above the daily candlesticks. This resistance is indicative of the challenge faced by the market in surpassing the $117.60 level. The Elders Force Index (EFI) mirrors these market dynamics, with the power line initially positioned high in the positive level but subsequently dropping just below the zero level. An attempt to regain upward momentum on January 10th proved unsuccessful.
Examining the 4-hour chart reveals a pattern akin to the daily chart, with the MA period 25 still positioned above the candlesticks, albeit at a closer proximity. The EFI demonstrates its line fluctuating around the equilibrium level, displaying a noticeable bias towards the downside. This confluence of factors underscores the ongoing struggle between bullish and bearish forces within the Quant market.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.
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