Quant Price Forecast: May 11
The Quant Price forecast is for the market to rise towards the upper border of its descending channel. It is an opportunity for the coin to exit the channel and take off from there.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $155.70, $125.25, $115.00
Zones of Demand: $106.90, $101.30, $88.70
The Quant market is expected to receive strong support from the $101.30 resistance level, which will prevent it from dropping lower and also empower it to drive up against the upper border of the consolidation channel. Indications show that the bulls are already working in the background, and we should soon see the price increase to $115.70.
Quant Price Forecast: QNT/USD Outlook
The Quant market is currently conducted through a descending channel after failing to get over the $134.20 resistance level. The price has slid down to the $101.30 support level.
As the price slides down through the channel, it can be seen cranking between the lower and upper borders as the price bypasses some key levels before reaching $101.30.
The $101.30 demand level is a strong reference point for buyers, and we can expect the price to rise against the tide. The market is oversold on the Stochastic and is due for an immediate rise.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
Since the coin dropped directly above the $101.30 significant level, the EFI (Elders Force Index) power line on the daily chart has shot upward and is on the verge of crossing beyond the zero line. This is evidence of the growing influence of the bulls despite the downward trend.
On the 4-hour chart, the Stochastic has already risen to the border of the overbought region. A little pullback follows before the Stochastic lines drive again upward, allowing the coin to drive beyond the $115.00 resistance level. The EFI power line is fluctuating around the zero level as the buyers seek to stabilize the market at a positive value. By this time, the coin should have broken out of the channel towards $155.70.
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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