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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
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.
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.
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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