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Quant Market Forecast – May 12
The Quant market forecast is poised for the market to drop to lower levels of bearish pressure that keeps mounting on the market.
Quant Long-Term Trend: Bullish (1-day Chart)
Key Levels:
Zones of supply: $107.40, $117.60
Zones of Demand: $87.60, $96.90
Quant bears seem to be gaining the upper hand in the battle for control of the market. The fight for dominance of Quant has been raging since the beginning of the year. The bears pulled down the price from January into February before the bulls took control to pump the price up to $142.10 till late March. Afterwards, the dominance was switched again which has allowed the sellers to bring down the market to its current level below $95.80.
Quant Price Forecast: QNT/USD Outlook
Quant bears are currently asserting dominance in the ongoing market battle.
The struggle for control has persisted since the year began, with bears initially driving prices down from January through February.
Subsequently, bulls seized control, propelling prices to $142.10 by late March. However, dominance shifted once more, allowing sellers to push the market below $95.80.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The RSI (Relative Strength Index) indicator depicts a gradual descent from the overbought border, traversing the 50 mark to enter the oversold territory. Presently, the RSI line resides in the bearish half of its chart. Similarly, the EFI (Elders Force Index) has transitioned from a positive to a negative value position, signaling bearish momentum despite its upward trajectory, which remains below the zero level.
On the 4-hour timeframe, the RSI maintains a predominantly bearish range, indicating the bears’ preparation to drive prices even lower. Meanwhile, the EFI power line approaches the equilibrium level, yet predominantly remains in negative territory. With bears currently holding the upper hand, there is potential for the market to test $87.60, a level not seen since October 2023.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.
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