Quant Price Forecast: March 22
Quant has been in a prolonged downward trend since the exhaustion of the bulls in December. The price has reached a bullish order block in an oversold region.
QNTUSD Key Levels
Demand Levels: $70.80, $42.10
Supply Levels: $98.50, $167.60
QNTUSD Long Term Trend: Bearish
In January, QNT formed a triple top pattern in a redistribution phase. This led to the break of the support level of $98.50.
Following the break of the demand level of $98.50, the price pulled back to the same zone where it acted as resistance
Quant Forecast: QNTUSD Outlook
Upon the pullback to the key level of level $98.50, the price was oversold. This lead to a massive shorting to the orderblock in the demand zone of $70.80. At this point the Stochastic signalled the market was oversold. This has led to a bounce off and a swerve away from the oversold level. the Machine Learning lorentizan indicator reveals the market is still bearish.
Quant Short-Term Trend: Bearish
On the lower timeframe the price appears to consolidate after bouncing off the bullish orderblock at $70.80. This reveals a lack of momentum to ascend. Based on the weak momentum, the price is expected to sink through the zone of $70.80. A sweep of $59.90 the zones low away lead to the next zone of $42.10.
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