Quant Price Forecast: Quant Establishes Strong Support at $131.00

Azeez Mustapha

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Quant Price Forecast: December 31

The Quant price forecast is for the market to make use of the robust demand level at $131.00 to rebound towards the $153.50 resistance for a potential breakout.

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

Key Levels:
Zones of supply: $142.10, $153.50, $160.00
Zones of Demand: $131.00, $117.60, $96.90

TradingView Chart

Quant succeeded in executing a bullish reversal formation, which catapulted the price to almost a 45% increase. However, the market has found stiff resistance at $153.50. This caused a pullback to a solid base at $131.00, from which the market is rebounding. The price has now tested the $153.50 resistance twice, and we could see a third test before the end of the week.

Quant Price Forecast: QNT/USD Outlook

Quant successfully initiates a bullish reversal, propelling the price to nearly a 45% surge.

Despite encountering formidable resistance at $153.50, a subsequent pullback finds a sturdy foundation at $131.00.

The $131.00 serves as a launching pad for the market’s rebound. The $153.50 resistance has been tested twice, with the potential for a third test by week’s end.

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

On the daily chart, the MA Cross has exhibited an upward trajectory since early December, aligning with the breakout from the flag structure and providing consistent support during the market’s retracement. The RSI line’s movement is somewhat ambiguous, fluctuating between the overbought border and the 50 mark.

TradingView Chart

Examining the 4-hour timeframe, the MA Cross demonstrates lateral movement, with a downward cross countered by a subsequent upward cross. The RSI line hovers just above the 50 mark, displaying fluctuations. Overall, the $131.00 demand level serves as a robust foundation, facilitating market rebounds and potential testing of the $153.50 resistance, with expectations of another test and potential 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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