Quant Price Forecast: May 7
The Quant price forecast is for the coin to gain strength from the former $101.30 support level. The buyers are expected to take control of the market from here.
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 has reverted to a major demand level of $101.30. At this level, the price began a strong rally that took it to $155.70. The buyers have dropped back to this level after various attempts to regain dominance in the market failed. The buyers are, however, very confident that the market will regain strength and take off from here, back towards $125.25.
Quant Price Forecast: QNT/USD Outlook
The Quant buyers have been trying to regain control over the market. The plunge started at the beginning of the year when the price couldn’t pass the $155.70 supply zone.
At different points, the bulls attempted to seize back control using key levels, trendlines, and a symmetrical triangle system, but the price still plummeted each time.
This has led the market back to a former support level, a stronghold for buyers. The EFI (Elders Force Index) line has since plunged below the zero level and remains at a negative value due to the return of the price to the support level.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The MA period 25 (Moving Average) aligned with the $115.00 resistance level to prevent the price from rising before it dropped back to the $101.30 demand level. The coin has to trade above the MA when the bulls get stronger to push upward.
The indicators on the short time frame are replicas of those on the daily chart. The EFI line has slipped below the zero level into a negative value. The MA period 25 remains aligned above the candlesticks. However, having dropped to $101.30, where the market began its major rally, the buyers are confident of finally regaining market control and pushing first to $125.25.
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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