Quant Price Forecast: March 5
The Quant price forecast is for the market to spring out of a bullish flag formation as the price reaches a strong support level.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $147.60, $155.70, $222.70
Zones of Demand: $42.40, $88.70, $125.25
The Quant market has formulated itself into a bullish flag pattern. Like the flag structure, the market is currently in a downtrend. However, the coin hit a major support level at $125.25, preventing it from further decline. This will hasten the price breakout out of the bullish flag and toward the $155.70 resistance level.
Quant Price Forecast: QNT/USD Outlook
QNTUSD is likely to spring out of its bullish flag formation anytime from now. The price assumed that pattern after it hit a bulwark at the $155.70 resistance level.
The market has been trading downward to form the flag session of the structure. The price moved towards the $125.25 demand level, preventing the coin from dropping further.
The candles slipped below the support level once but have been restored above it by the lower Bollinger line and the middle line of the descending channel.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The EFI (Elders Force Index) powerline on the daily chart is very close to the equilibrium line from a bearish point as the market hangs in balance. From a 4-hour perspective, the power line is close to the equilibrium line at a bullish point. It shows the market hangs in balance as it awaits direction from the market’s influences.
The Bollinger Bands wrap around the coin as the price is about to trade beyond the middle to the higher Bollinger Band. The bears currently slightly edge the market due to the downtrend of the flag formation. However, it is to the buyers’ advantage as the market is expected to spring out of the structure to burst past the $155.70 resistance.
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