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Quant Price Forecast: January 7
The Quant price forecast is for a strong reaction from the buyers at $107.40 to stop the downtrend in the market and potentially cause a reversal.
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
The Quant market previously spent several days beginning from mid-October 2023 up to late December to orchestrate a strong upward move reaching a 75% price increase. However, an exhausted buying base was repelled on reaching the $153.50 significant level. The price immediately dropped to $131.00 and rebounded back upwards. The market met a second rejection and it has been all south after that till the coin touched down at $107.40.
Quant Price Forecast: QNT/USD Outlook
Despite earlier efforts, the Quant market’s bullish momentum has faltered, leading to a retracement of $107.40.
The market witnessed a robust upward movement from mid-October 2023 to late December, culminating in a notable 75% price increase. However, upon reaching the significant level of $153.50, an exhausted buying base faced rejection.
The rejection caused an immediate drop to $131.00. Despite a brief rebound, subsequent rejection drove the coin southward, ultimately settling at $107.40.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The current scenario indicates a critical juncture for Quant, with the price dipping below the Moving Average (MA) period 25. Confirmation of a shift in fortunes would require the price to reclaim and rise above the MA. The Elders Force Index (EFI) line has transitioned from a lofty positive value to the zero level and below, signaling the prevailing dominance of bears in the market.
Analysis of the 4-hour chart reveals a downward tilt of the MA period 25 above the candlesticks, providing a potential avenue for price recovery. The EFI line has marginally recovered upward but remains in negative territory, hovering just below the zero line. While bears currently hold sway, there are discernible openings for bulls to exert influence and potentially impact the market dynamics.
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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