Quant Price Forecast: June 8
The Quant Price forecast is for the market to drop back to the $107.40 demand level for a retest before it continues its rally.
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 saw a breakthrough recently due to the dominance of the sellers. The price popped out of the descending channel once it landed on the $96.90 strong demand level. There has been an initial limitation at $117.60, but the price will likely get support at $107.40 before continuing its rally.
Quant Price Forecast: QNT/USD Outlook
The Quant market buyers weakened upon reaching the $160.00 price level. This led to a period where the coin was conducted downward through several key levels.
The bulls, however, set themselves in an array at the $96.90 demand level, and immediately after the coin dropped to that level, they jumped into the market and began influencing it.
The influence is seen in how the price breaks out of the descending channel in an upward direction. The ATR (Average True Range) indicator shows a rise in general market volatility.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The Envelope indicator range on both the daily and 4-hour charts has shifted out of the descending channel as the price pops out. On the daily chart, the price rises and pushes against the upper Envelope line before pulling back towards the middle, but the candles keep ranging at the middle line of the 4-hour Envelope indicator.
There is much more indication of a volatility increase on the 4-hour chart. There has been an increase, a drop, and another big increase in volatility. The coin will likely get support from the $107.40 demand level before pushing upward toward the $149.60 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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