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Quant Price Forecast: October 8
The Quant Price forecast is for buyers to minimize a bearish hold on the market and prevent further price deterioration.
Quant Long-Term Trend: Bullish (1-day Chart)
Key Levels:
Zones of supply: $117.60, $96.90
Zones of Demand: $87.60, $75.50
Quant buyers are trying to take advantage of the seller’s exhaustion to stem the bearish tide around $87.60. The bears have gained dominance over the market since mid-August after a breakout from a triangle structure. Since then, the price has descended through the strong $96.90 demand zone to reach $87.60. At this point, the buyers are trying to resist the bearish pressure for the coin to plunge even lower. Therefore, we can see the price fluctuating around the $87.60 level.
Quant Price Forecast: QNT/USD Outlook
Quant buyers are making efforts to counter the prevailing bearish pressure around the $87.60 level, capitalizing on signs of seller exhaustion.
The bears have maintained dominance over the market since mid-August, following a breakout from a triangular structure. Subsequently, the price descended from the robust $96.90 demand zone to reach the critical $87.60 level.
At this juncture, buyers strive to resist the bearish momentum and prevent further price deterioration, resulting in price fluctuations around $87.60.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
The 30-period Moving Average (MA) is positioned above the daily candlesticks, underscoring the market’s trajectory and the influence of sellers. Meanwhile, the daily Elders Force Index (EFI) power line has descended below zero but is gradually recuperating toward equilibrium, indicating the underlying efforts of buyers.
The 4-hour timeframe reflects the current oscillatory movement in the market, with candlesticks wavering around the $87.60 level and the 30-period MA. Although the EFI line also hovers around the equilibrium level, it has recently managed to edge slightly above zero, suggesting that buyers are actively working to stabilize the market.
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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