Quant Price Forecast: June 6
The Quant price forecast is for the market to persist in its upward movement after a slight pullback.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $117.60, $149.60, $167.10
Zones of Demand: $107.40, $96.90, $87.60
Quant market bearishness ended abruptly after it hit the $96.90 demand zone. The price has popped out of the descending channel, which has thus far led the price downward. The coin rose immediately to $117.60 before having a pullback. The market is expected to resume its newly found bullish vigor.
Quant Price Forecast: QNT/USD Outlook
Bulls’ exhaustion at the $150.00 price level led to a drop to the $96.90 support zone. This is now showing a semblance of a ranging market.
The bulls have revived at the $96.90 demand zone, and the market has popped out of the descending channel conducting the market downward.
Quant is not set to rise to the resistance level around $149.60 but has pulled back a little at $117.60. The MA period 35 (Moving Average) remains below the trading level, reinforcing the $107.40 level to keep the market afloat.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The RSI (Relative Strength Index) line has stopped short of entering the overbought region and pulled back towards the middle line in response to the retracement of the market. The midline is a good point to bounce back upward.
Nevertheless, on the 4-hour chart, the price has traded slightly below the MA period 35. This is also reflected in the 4-hour timeframe RSI, whose line has now plunged towards the oversold border. Nevertheless, the market remains on an upward trajectory, and the coin is expected to bounce off the $107.40 key level to continue its journey toward $149.60.
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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