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Quant Price Forecast: December 10
The Quant price forecast is for the market to rebound off the $107.40 significant level to complete its breakout beyond $117.60.
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 has been having a tough time surmounting the $107.40 resistance level. This is despite its strong bullish showing from late October. As a result of the blockage, the price started meandering through a bullish reversal flag pattern. Just like the intent of the formation, the market eventually broke out and breached the $107.40 supply line and rose even slightly beyond $117.60. Bulls are exhausted, and the price has pulled back for a first retest of $107.40 before it surges again.
Quant Price Forecast: QNT/USD Outlook
The Quant market has encountered challenges surpassing the resilient $107.40 resistance level, despite its robust bullish performance since late October.
Faced with this obstruction, the price navigated through a bullish reversal flag pattern, culminating in a breakout that breached the $107.40 supply line and slightly exceeded $117.60.
However, the bullish momentum has waned, prompting a pullback for the market’s initial retest of $107.40 before a potential surge.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
On the daily chart, the Moving Average (MA) Cross acts as a supportive factor alongside the $107.40 resistance level, facilitating the market’s rebound. The Elders Force Index (EFI) power line, having risen significantly, is now undergoing a decline concurrent with the ongoing retracement.
Concerns emerge in the lower time frame, where the MA Cross signals an impending market downturn with a potential downward cross. Simultaneously, the EFI power line in this time frame has dipped below zero. Swift action by buyers is essential to thwart potential bearish repercussions and preserve the progress made on the bullish trajectory thus far.
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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