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Quant Price Forecast: January 1
The Quant price forecast is for the buyers to continue strengthening themselves in consolidation until they gain enough traction for a breakout.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $125.25, $155.70, $227.70
Zones of Demand: $42.40, $88.70, $101.30
Consolidation in the QNTUSD market has stretched into the new year. However, the price has further constrained itself, rising to only $115.00. This shorter stroke makes it easier for the price to generate more momentum, which the buyers will be looking to capitalize on once a breakout happens.
Quant Price Forecast: QNT/USD Outlook
QNTUSD continues its consolidation into the new year. The market has thus far been limited to trading between the $125.25 resistance level and the $101.30 support level.
Furthermore, the price has reduced the wavelength of its movement within the consolidation. The coin rises only as high as the consolidation middle level at $115.00.
The market will be able to quickly strengthen itself for a breakout with the short cranking in consolidation. The candlesticks have ranged between the lower and middle lines of the Envelope indicator.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The current ranging phase has the market in an equilibrium state, which means neither the buyers nor the sellers have the upper hand until the price breaks out. However, the bulls are positioned to capitalize and profit from the breakout, as evidenced by the 4-hour chart, which shows a bullish bias.
The upper line of the Envelope indicator has come down to the level of the consolidation middle line at $155.00, and so the price keeps ranging with the middle line as the resistance level. The shorter strokes taken by the price in consolidation generate momentum, which leads to a breakout toward $227.70.
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