Quant Price Forecast: QNTUSD Market Continues Accumulation to Resume Rally

Quant Price Forecast: November 1

The Quant price forecast says that the current market consolidation should cause a price rebound from $159.60.

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

Key Levels:
Zones of Supply: $128.10, $159.60, $227.60
Zones of Demand: $39.40, $86.20, 161.80

The Quant price, after breaking out of a bearish channel Since mid-September, the Quant price has been on a steady rise and has reached its peak of $227.60. As the Parallel Channel highlights, after the steep drop in price on the 13th of last month, the market started to rise in a distorted step-like manner till the 17th of October.

Quant Price Forecast: QNT/USD Outlook

On October 18, a bearish candle formed, which engulfed the effects of the bulls from the two days before. This event was what triggered the need for the retest of a lower price level, as the last swing had become overbought. It was thus imminent that the market would make an opening to usher in more buyers at a lower discount level.

Despite the recent dive in price, the SuperTrend indicator remains green, showing that the market is mainly going through an accumulation phase. After the $159.60 support level was retested on the 27th, the QNTUSD market has continued to accumulate, gaining momentum for a bullish break.

The Stochastic Oscillator indicator is currently at an oversold level, signaling that the support level price position will soon change. The current price level is at an extreme that will pave the way for the bulls to take over the market.

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

The Average Directional Index indicator has, since the 16th, been showing a wane in strength on the 4-hour price chart. This shows a lack of zeal on the sellers’ end.

The ADX indication will mean that the price direction will change soon, as the bearish pressure that forced the retest has died down. The Quant price can be expected to resume its uptrend after this timeout.

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