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Quant Price Forecast: March 3
The Quant price forecast is for a more upward drive through the level. This is despite hitting a temporary impasse at $131.00.
Quant Long-Term Trend: Bullish (1-day Chart)
Key Levels:
Zones of supply: $131.00, $142.10
Zones of Demand: $107.40, $117.60
The Quant market remains dominantly controlled by the bulls. After the breakout that occurred using the bullish flag formation, the price suffered a series of rejections to suppress its bullishness, but it always bounced back. The strongest rejection came at the highest price level since February last year. This caused the coin to dip back to $107.40. However, the market has shown resilience to avoid falling to $96.90 and instead engineered a rally that pushes the price to $131.00.
Quant Price Forecast: QNT/USD Outlook
The Quant market continues to exhibit a prevailing bullish sentiment, firmly under the control of the bulls.
Despite facing rejection following the breakout facilitated by the bullish flag formation, the price, determined to maintain its bullish trajectory, consistently rebounded.
The most formidable rejection occurred at the highest price level since February of the previous year, prompting a retracement to $107.40. However, showcasing remarkable resilience, the market defied further decline to $96.90, orchestrating a rally that propelled the price to $131.00.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
Having reached $131.00, the price encountered resistance, resulting in a minor pullback. Nevertheless, on the daily timeframe, the EFI (Elders Force Index) power line remains elevated, positioned above the zero level, indicating sustained bullish strength. The MA period 20 (Moving Average) is strategically positioned below the candles, functioning as a crucial support.
Examining the 4-hour timeframe, the price has descended to the MA period 20, acting as a barrier against further downturns and signaling a potential retest of the significant $131.00 level. Despite a significant plunge, the EFI power line maintains its position above the zero level, affirming the ongoing dominance of the bulls and signaling an impending retest at $131.00.
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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