Quant Price Forecast: QNTUSD to Rally from Current Resistance

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RESULTS

Quant Price Forecast: February 1

The Quant price forecast is that the market will shoot upward immediately after it lands at the $125.25 demand zone.

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

Key Levels:
Zones of supply: $155.70, $227.70
Zones of Demand: $88.70, $101.30

Quant has been unable to breach the $155.70 resistance level. It is instead reverting to the $125.25 support level, where it hopes to rally. There will be the advantage of space and time for the market to accumulate momentum. In addition, more bulls will enter the market at that price level. It will enable the market to rally with more aggression.

Quant Price Forecast: QNT/USD Outlook

Quant has decided to revert to its former resistance level of $125.25. It was after the price had reached the current resistance level to no avail.

Pulling back to the $125.25 demand zone will give the market the scope of having space and time to run at the resistance. In addition, the market will be pent up as more buyers come in at the current demand level.

Currently, the price is dipping toward the $125.25 demand level. In doing so, the coin has finally traded below the EMA period 20 (Exponential Moving Average), making it free to run unhindered toward the support level.

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

On the daily chart, the Stochastic Oscillator lines are taking a neat dive from the borders of the overbought region down toward the oversold zone. It has crossed the midline. On the 4-hour chart, the line has dropped into the oversold zone, risen out of it, and plunged right back into it. It happens as the price drops.

Meanwhile, the EMA period 20 on the 4-hour chart has properly switched positions to stay above the candlesticks. All these are signs of a dropping market. However, the drop will stop at the $125.25 demand level, from where a rally will kick in immediately toward the $155.70 resistance level. Before the price breaks through the level, there will be some testing.

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