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Quant Price Forecast: September 3
The Quant price forecast is for the $96.90 support level to act as a pivot to prevent further plunges and cause a price rebound towards the $117.60 resistance.
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 is indecisive as the buyers and sellers cancel out each other. A lot of momentum was stored up earlier on when the price tapered through the triangle structure. However, much of that was used up when the coin had a false breakout to the upside on July 29. Afterward, the coin regressed into the structure before weakly breaking downward. The 96.90 support has prevented further drops, and since then, the market has been trading rather laterally.
Quant Price Forecast: QNT/USD Outlook
The current state of the Quant market reflects a sense of indecision, with buyers and sellers effectively neutralizing each other’s influence.
Previously, there was notable momentum as the price traversed a triangular pattern. However, a significant portion of that momentum dissipated with a false upside breakout on July 29.
Subsequently, the coin retreated into the pattern and made a feeble downward move. It’s worth noting that the support level at $96.90 has acted as a barrier against further declines, leading to a period of sideways trading.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
Examining the daily chart, we observe a contraction in the Bollinger Bands, signifying the market’s lateral movement. The EFI (Elders Force Index) briefly rose above the zero line but has since retreated below it, indicating a bearish leaning in the current market sentiment. This pattern persists on the 4-hour chart, with the Bollinger Bands constricting around the candles, maintaining a sideways trajectory.
Simultaneously, the EFI, having dipped below the zero line, is now exhibiting lateral movement at that level. It is reasonable to expect that the $96.90 support level will likely serve as a springboard should the price experience any downward pressure, potentially pushing it toward the $117.60 resistance level.
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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