Quant Price Forecast: QNTUSD Receives Strength at the $155.70 Confluence Point

Quant Price Forecast: October 21

The Quant price forecast is for the market to restart its bullish advantage after it receives strength at the $155.70 confluence point.

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

Key Levels: 

Zones of supply: $42.40, $88.70, $155.70

Zones of Demand: $222.70, $260.00, $352.10

Quant’s strong upward movement, which began at the 42.40 support level, has been stopped abruptly by a barrier at $227.70. This led the market into a bit of a retracement. For up to 3 days, the price kept dropping, not finding any support price level to land on. However, on October 20th, QNTUSD lands on a confluence point at the $155.70 key level and receives the strength to restart its rally.

Quant Price Forecast: QNT/USD Outlook

After the Quant coin lands at $42.42, it begins to follow an ascending trendline. The trendline takes the price past several key levels till it reaches a barrier level of $227.70.

The coin couldn’t evade the resistance level the first time, and it began to drop, looking for a suitable key level from which it could bounce off. Eventually, the market finds a strong support level at $166.

The Stochastic Oscillator lines are seen hugging the overbought borderline. This indicates a bullish but controlled upward price movement. In addition, the Momentum in price is in an uptrend movement.

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

On the 4-hour chart, the price has touched down on the confluence of the $155.70 key level, it has reversed immediately, ready to rise to test the resistance level. The Stochastic Oscillator lines are rising strongly from an oversold status and it is about to enter the bullish half of its chart.

The fluctuating nature of the Momentum indicator shows an increase in the market activity of the buyers. This is accompanied by a price increase from the confluence point. QNTUSD will retest the $227.70 resistance level to break through it.

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