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Quant Price Forecast: October 22
The Quant price forecast is for the market to push to higher levels after it escapes from below $87.60.
Quant Long-Term Trend: Bullish (1-day Chart)
Key Levels:
Zones of supply: $96.90, $107.40, $117.60
Zones of Demand: $87.60, $75.50, $62.30
Quant has broken the ongoing bearish trend suddenly. The bears have been dominating the market up until now, with the price trading directly below the $87.60 significant level. Against the trend of things, the market has recoiled aggressively, breaking the bearish hold and the $87.60 barrier. The price has now surged towards $96.90, where further reactions have begun ahead of more price rises.
Quant Price Forecast: QNT/USD Outlook
Quant has delivered an unexpected twist in the ongoing bearish trend, reversing the market’s direction.
The bears had maintained their control, keeping the price below the significant $87.60 level. However, in a sudden turn of events, the market has aggressively bounced back, shattering the bearish grip and breaching the $87.60 barrier.
The price has surged towards $96.90, where further price reactions have commenced in anticipation of additional upward movement.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
This sharp market reversal has also propelled the price above the EMA period 35 (Exponential Moving Average) on the daily chart. Moreover, the Stochastic Oscillator line, previously fluctuating, has now entered overbought territory, indicating the market’s bullish momentum.
In the 4-hour timeframe, a slight retracement is underway after encountering the $96.90 resistance level. The EMA period 35 is positioned below the price’s trading level, serving as a supportive factor. The Stochastic Oscillator signals an overbought market, which is driving the ongoing retracement. It is expected that the price will consolidate before potentially making another attempt to retest and surpass the $96.90 resistance level.
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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