Quant Price Forecast: The Quant Market Pumps Out of Its Descending Channel

Quant Price Forecast: June 1

The Quant price forecast is for the market to hold above $117.60 before rallying even higher towards the $149.60 resistance.

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

Recently, the Quant Market has been following a strict regime after hitting the $167.10 resistance level. The price has been conducted downward through a channel. This continued till the coin hit the $96.90 demand zone, where buy traders were waiting. An influx of bulls has caused a dramatic change in mobility. The coin has pumped up out of the descending channel and back towards the resistance.

Quant Price Forecast: QNT/USD Outlook

The last time the price dropped to the $96.90 demand zone, the result was a strong market rally, which saw the price shoot upward beyond several levels to the $167.10 supply level.

The supply level proved too strong for the market to pass through. With the bulls already exhausted, the sellers take advantage of the situation to drive the price downward.

Now that the coin has reached $96.90, buy traders have fully revived and taken the first step to violate the channel. The MA Cross (Moving Average) has crossed upward as the price surges.

QNT/USD Medium-Term Trend: Bullish (4-hour chart)

On the daily chart, the EFI (Elders Force Index) power line has surged upwards, breaking through the zero line and entering a positive value. This is the same situation on the 4-hour chart. However, the drop back towards the zero level indicates a pullback.

On the 4-hour chart, the MA Cross crossed upward on May 27. The price is predicted to hold above the $117.60 key level, after which the market will keep rising towards the resistance level at $149.60.