Quant Price Forecast: December 17
The Quant price forecast is for the coin to follow through with its plan to push against the $117.60 resistance level
Quant Long-Term Trend: Bullish (1-day Chart)
Key Levels:
Zones of supply: $117.60, $131.00, $142.10
Zones of Demand: $87.60, $96.90, $107.40
Quant bullish reversal is currently going according to the design of the market buyers. The price had initially been suppressed below the $107.40 resistance which forced the market to take the structure of a bullish reversal flag.
As expected, the market then broke out beyond the $107.40 resistance and marginally rose beyond $117.60. It was expected also that the price would drop back to $107.40 for a retest before shooting upwards again and the market is right on course.
Quant Price Forecast: QNT/USD Outlook
The bullish reversal in Quant is progressing according to the strategic intentions of market buyers.
Initially constrained below the $107.40 resistance, the market adopted the structure of a bullish reversal flag. As anticipated, it subsequently breached the $107.40 resistance, achieving a modest rise beyond $117.60.
The envisioned retracement to $107.40 for a retest before resuming an upward trajectory is unfolding as planned.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
Having rebounded from the upper border of the bullish flag formation, the price is trading above the daily MA period 20 (Moving Average), steadily ascending towards $117.60. While the Stochastic Oscillator lines have marginally dipped below the 50 mark, an anticipated upward movement is on the horizon.
The 4-hour timeframe presents more pronounced developments. Although the price is poised on the cusp of trading above the MA period 20, the Stochastic Oscillator lines have surged out of the oversold region, crossing the 50 mark toward the overbought line. The strategic plan remains in progress for Quant to surpass the $117.60 threshold.
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