Quant Price Forecast: April 16
The Quant price forecast is for the market to attempt to spring off the $115.00 significant level after the price drops down from its triangle structure.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $155.70, $134.20, $125.25
Zones of Demand: $101.30, $115.00, $120.60
The Quant market has been looking to break to the upside using a triangle structure. However, the $125.25 key level has contributed to resisting the upward flow of the price from the triangle, and the price eventually dropped. The bulls have already thrown a spanner in the works as they project to use the $115.00 demand level as a launching pad to rally upward.
Quant Price Forecast: QNT/USD Outlook
The Quant buyers have had a significant impact thus far on the market. They drove the price up to $155.70 before it was rejected. Since then, a couple of structures have been used to try to push the price up.
The most recent structure employed is the symmetrical triangle system. The system was an opportunity for the market to consolidate and then move in a definite direction.
However, the market couldn’t keep up the intensity and dropped below the triangle structure. The buyers, unperturbed, have set their sights forward already, attempting to spring off the $115.00. The Stochastic lines have dropped below 50 and will soon rise again.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
After fluctuating around the MA period 20, the daily candlesticks have finally chosen to slip below the MA period 20. In doing so, the candles breached the lower border of the triangle and traded downward. This is even more evident on the 4-hour chart as the price trades towards the $115.00 support level.
The Stochastic Oscillator lines on the 4-hour chart have touched down at the border of the oversold region even as the candles approach the $115.00 significant support level. That $115.00 level will act as both a landing and a launching pad for the price to take off without the aid of the triangle structure. The immediate aim is the $134.20 supply level.
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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