Quant Price Forecast: Quant Aims for Stability After Downside Breakout

Azeez Mustapha

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Quant Price Forecast: August 20

The Quant price forecast is for buyers to stabilize the market after a downward breakout before pushing the coin upward again.

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

Key Levels:
Zones of supply: $117.60, $149.60, $167.10
Zones of Demand: $96.90, $87.60, $75.50

Quant Price Forecast: Quant Aims for Stability After Downside Breakout

Despite buyer hopes to reverse Quant price at the $96.90 demand level, persistent bearish pressure emerged, leading to a symmetrical triangle formation. The aim was a breakout above the $117.60 resistance, but the result turned out to be the opposite. Nonetheless, active bulls managed to reclaim the market above $96.90, indicating ongoing market engagement.

Quant Price Forecast: QNT/USD Outlook

Despite initial hopes of a price turnaround from the $96.90 demand level, Quant buyers encountered persistent bearish pressure that led to the formation of a symmetrical triangle.

This pattern indicated an anticipated breakout, aiming for a surge beyond the $117.60 resistance. However, the outcome turned out contrary to expectations, leading to a downside breakout.

Despite this, the active bulls managed to reclaim the market above $96.90. The daily RSI line responded by rebounding from the oversold zone, ascending back toward the 50 mark.

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

Concurrently, the Parabolic SAR dots on the daily chart swiftly positioned two dots beneath the candlesticks, symbolizing the recovery above $96.90. Transitioning to the 4-hour chart, the Parabolic SAR (Stop and Reverse) dots still underline the candles and have risen past the $96.90 level.

Quant Price Forecast: Quant Aims for Stability After Downside Breakout

Meanwhile, the RSI (Relative Strength Index) line exhibited further progress, reaching equilibrium around the 50 mark. These developments indicate that the market is in a state of flux, with buyers actively striving to stabilize the price following the downside breakout.

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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