Quant Price Forecast: Quant Market Makes a Long-expected Break from Its Downtrend

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Quant Price Forecast: November 4

The Quant price forecast posits that the long-awaited trend reversal has finally played out after the breakout from asymmetric triangular motion.

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

Key Levels:
Zones of Supply: $86.20, $109.70, $209.40
Zones of Demand: $39.40, $44.10, 155.70

Until the middle of October, the Quant market saw a steady rise in value, from about $109 to $209, just within 30 bars on the daily chart. At this point the market became overbought, hence the steep dive to revisit the previous demand level.

Quant Price Forecast: QNT/USD Outlook

On the 20th of October, however, the market’s first attempt to retest the support level at $155.70 was rejected, leading to an impulsive reaction from the bulls. However, this run was unsustainable. This led the market to further dip down for much longer until the 3rd of November.

The touchdown on the resistance-turned-support level at $155.70 reinforced the Quant market with the bullish pressure it needed to create the price upshoot seen earlier in the day. The rebound from this support level will see the Quant price significantly rise back to its initial level.

The Average Directional Index signals that the current market trend direction lacks enough bearish pressure to continue. Sellers getting weak at this demand level means that the $155 support level will not cave in. From this point onward, a significant directional change can, therefore, be expected.

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

The 4-hour chart, on the other hand, displays an oversold market at the current price level. The Stochastic indicator is currently at a level that confirms.

The Stochastic Oscillator indicator is presently below level 12, which goes to show that QNTUSD traders would find the buy option more attractive from this level. The result of this will likely be seen in the momentum with which the price will seek to reverse back to the $210 level.

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