Quant Price Forecast: June 11
The Quant price forecast is for the retest of the market at the $96.90 support level to lead to the long-anticipated rally.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $117.60, $149.60, $167.10
Zones of Demand: $96.90, $87.60 $0, $75.50
Quant rose strongly off the $96.90 significant level, at the beginning of the year. The bulls were fully at work and pushed the market up to $160.00. The bulls, however, were exhausted at this level and even held well above $149.60. This led to a wobbly drop back to $96.90, where the price is reacting a bit to rise again.
Quant Price Forecast: QNT/USD Outlook
Quant started January this year with strong bullish intent, bypassing several price levels to reach as high as $160.00. However, the bulls got exhausted, and the price descended that same February back to $96.90.
The $96.90 key level remains very crucial to the market’s movement. This has helped halt the fall in price. Now that the trend is broken, the price intends to rise from the retest of the same level.
The level has been retested and progressed to restore the coin to a high price. The Parabolic SAR (Stop and Reverse) on the daily chart has switched above the candle as the price dropped for the retest.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The RSI (Relative Strength Index) has taken a huge drop from the bullish half into the bearish half, although it stops short of entering the oversold region. The price entered the oversold region on the 4-hour chart but bounced back upward immediately as the price continued its recovery.
Likewise, the Parabolic SAR dots on the 4-hour timeframe have switched and queued below the candlesticks. As said earlier, progress is being made, which is very evident in the shorter time frame. It is only a matter of time before this reflects on the daily chart, as the price is poised to rally back to $160.00.
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