Quant Price Forecast: QNTUSD Stops Retracement, Rises Towards Supply Level

Quant Market Forecast: February 2

The Quant market forecast is for the price to drive aggressively toward the weekly supply level after it altered its direction to the upside.

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

Key Levels:
Zones of supply: $155.70, $227.70, $260.00
Zones of Demand: $101.30, $115.00, $125.25

QNTUSD has cut short its retracement and is pushing hard toward the $155.70 resistance level. The price has been testing the resistance level to no avail recently. It is expected that this sharp price increase will hit the resistance level with much more intensity, which is likely to split open the resistance and allow the market to rise higher as it has aimed to do for a while.

Quant Price Forecast: QNT/USD Outlook

The bulls certainly have more control over the market than the bears. However, the price has been restricted from rising above the $155.70 level.

The coin price has risen beyond this level before, up to $227.70, where it was rejected and dropped, but at this point, it is taking some time for the price to go beyond it.

The market is rising aggressively again toward supply after suddenly altering its retracement. The price has bounced off the EMA period 20 (Exponential Moving Average) and is moving toward $155.70.

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

The MACD (Moving Average Convergence Divergence) indicator lines are high above the positive zone. The line crossed downward when the market was retreating to the support level. However, with the altering of the market trend back upwards, the line will not drop below the zero level and instead, rise.

The MACD line on the 4-hour chart has dipped into a negative value and is now retracing its movement back above the middle line. Bullish histogram bars are formed already. Quant is expected to test the $155.70 resistance level with greater intensity. The buyers are hoping to cross over at this time and rise towards $227.70.

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