Quant Price Forecast: November 19
The Quant price forecast is for the market to make more efforts at testing the $107.40 resistance level to breach it.
Quant Long-Term Trend: Bullish (1-day Chart)
Key Levels:
Zones of supply: $107.40, $117.60
Zones of Demand: $87.60, $96.90
The Quant market can be said to be currently stuck below the $107.40 resistance level. The coin made a strong bullish move recently that pinged the price right above $96.90 and even beyond $107.40 in a single move with consecutive bullish candles. However, QNTUSD wouldn’t last above $107.40 and dropped back to $96.90. Since then, Quant has made another failed attempt to rise above $107.40 and can be described as currently stuck below the resistance. Another test of the resistance is expected to come again.
Quant Price Forecast: QNT/USD Outlook
Quant remains below the $107.40 resistance level, which is displaying a persistent strength to suppress the rise of the market.
Despite a strong bullish surge, pushing the price above $96.90 and briefly exceeding $107.40, QNTUSD couldn’t sustain its position and retreated to $96.90.
Subsequent attempts to breach $107.40 have proven unsuccessful, indicating a current impasse below this resistance level with expectations for another test shortly.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
On the daily chart, a shift in the upward trajectory is evident as the trading level falls below the $96.90 Moving Average period 25 (MA). The Elders Force Index (EFI) initially rose into positive territory but has since fallen below the equilibrium level, reflecting a lack of sustained upward momentum.
The 4-hour timeframe mirrors the daily pattern, with the MA period 25 line positioned above the candlesticks, hinting at a potential crossover. Additionally, the EFI line has marginally risen above the zero level, suggesting a renewed attempt to challenge the $107.40 resistance in the upcoming market movements.
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