Quant Price Forecast: February 28
The Quant price forecast is for the $125.25 demand level to assist buyers in regaining their positions and also to aid the market rally.
Quant Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $155.70, $222.70, $428.00
Zones of Demand: $20.00, $42.40, $88.70
The QNTUSD market is caught up in consolidation after failing to rally beyond the $155.70 resistance level. The coin is seen ranging, with the $125.25 support zone padding it below. The price has been pushed hard to drop below the support line, but the $125.25 demand zone seems up to the task and has repelled the market upward.
Quant Price Forecast: QNT/USD Outlook
The Quant market has thus far been unable to get past the $155.70 resistance level, despite the momentum of the buyers when they came raging after they broke out of the former consolidation.
Thereafter, the price has been bouncing between that resistance level and the $125.25 support zone. Sellers plunged the market forcefully in the previous price drop, but the $125.25 level stopped the drop.
The market is now showing a reversal candlestick as the price prepares for a reversal. The tip of the RSI (Relative Strength Index) has bent upward as the price bounced off the $125.25 support level.
QNT/USD Medium-Term Trend: Bullish (4-hour chart)
On the daily chart, the Elders Force Index (EFI) recently fell below zero as the price fell below the $125.25 significant support level. But it has been well below the support level on the 4-hour chart. It is set to change as the tip of the 4-hour EFI power line bends upward.
The RSI line on the 4-hour chart has also dipped to the border of the oversold region with the drop in the market. However, as $125.25 remains impervious and has repelled the coin upward, the line of the RSI has bent upward in respect of that. The market is expected to rise toward the $155.70 resistance level.
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