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Quant Price Forecast: September 10
The Quant price forecast is for a potential drop below the $96.90 support level as bearish pressure keeps increasing.
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
The Quant market has yet to make much of the triangle consolidation from May to August. After the false breakout occurred on July 30th, the strength of the buyers had been prematurely expended, and upon exiting the triangle, the price has been putting more pressure on the $96.90 support level. More downside pressure is exerted as the coin recently crashed to the support level again.
Quant Price Forecast: QNT/USD Outlook
Quant exerts downward pressure on the critical support level of $96.90. Despite the triangle consolidation observed from May to August, the market has failed to capitalize on this period.
Following a false breakout on July 30th, buyer strength depleted. Subsequently, upon exiting the consolidation triangle, the price continued to test the $96.90 support level, further intensifying the bearish sentiment.
This downward momentum was exemplified by the recent drop, which once again brought the price to this crucial support level.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The Parabolic SAR (Stop and Reverse) indicator has recently flipped above the candlesticks. This shift occurred as the price failed to reach $107.40 and swiftly retraced to the support level. However, it is worth noting that the EFI indicator does not raise significant concerns, as the power line has only marginally dipped below the zero line.
The $96.90 support level holds substantial psychological significance and may be a potential catalyst for buyers to regain their confidence. Notably, the Parabolic SAR dots now oscillate below the candlesticks, indicating proximity to the support level. Simultaneously, the EFI line exhibits fluctuations near the zero level. Thus, the cryptocurrency currently stands at a delicate juncture, with the bears holding a slightly advantageous position.
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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