Quant Price Forecast: May 21
The Quant Price forecast is for an imminent rise of the market from the strong $101.30 support level after it becomes oversold.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $134.20, $125.25, $115.00
Zones of Demand: $101.30, $87.56, $76.10
The Quant market has been conducted downward through a descending channel up to the $101.30 significant support level. The market will exploit the opportunity to revive its bullishness from this level as there is a supply of buyers at this major demand level. Therefore, the coin is expected to rise imminently.
Quant Price Forecast: QNT/USD Outlook
The market has been trying to overcome bearish pressure since the price failed to convincingly rise beyond the $155.70 significant level on January 26.
Since then, the market has been ushered down a descending channel before switching to another descending channel. The result is that the market drops to a major demand level of $101.30.
At the $101.30 demand level, the market is overbought, as shown by the Stochastic Oscillator lines. There is the anticipation of an imminent rise due to the strong demand.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The Bollinger Bands on the daily chart have thoroughly wrapped around the market as it flows downward in the channel. Moreover, the price is trading below the middle Bollinger Band. This shows the oversold nature of the market.
On the 4-hour timeframe, even though the Bollinger Bands squeezed even more onto the market, the candlesticks are still trading below the middle line. The Stochastic Oscillator lines range basically in the bearish half with occasional thrusts into the upper half of their chart. QNTUSD is expected to rise imminently due to the oversold condition and the supply of buyers at the $101.30 level. The price could rise as high as $134.20.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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