Quant Price Forecast: May 9
The Quant price forecast is for a strong reaction from the bulls when the price touches down at the $101.30 key level.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $134.20, $125.25, $115.00
Zones of Demand: $101.30, $87.56, $76.10
The Quant market reached a peak of $155.70 early in the year, but due to the exhaustion of the buyers, the bears stepped into the market to influence it. So far, this has led the coin through a descending channel to bypass several key levels. Nevertheless, as the market approaches the $101.30 level, a strong reaction from the bulls is expected that is likely to propel the coin back upward toward $125.25.
Quant Price Forecast: QNT/USD Outlook
The Quant market spent late 2022 ranging within a channel, with $125.25 as the resistance level. By the start of the new year, the coin had gathered the required momentum to push out of the consolidation.
What follows is a price rise of more than 60%. This ensured the market pushed beyond $155.70. But this was all there was to it as the buyers weakened, and a plunge followed.
The best effort of the bulls to stop the fall didn’t work out, and the coin is now back to the support level of initial consolidation. The RSI (Relative Strength Index) line has since dropped below the mid-level and has been ranging there.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The price has slipped to $101.30 through a descending channel. A strong reaction is expected at the demand level as the market is set to receive massive support from which the bulls can recover. The Envelope indicator is ushering the market to $101.30 support.
On the 4-hour chart, the market trajectory slides down to the $101.30 support level. The market can be seen swinging around the middle line of the Envelope indicator. The RSI line on the 4-hour chart has touched the oversold border, and we may begin to see the bullish reactions that will drive the price back up toward $125.25.
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