Quant Tests Bullish Order Block in Demand Level: QNTUSD Bullish Reversal Ahead?
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Quant Tests Bullish Order Block in Demand Level: QNTUSD Bullish Reversal Ahead?

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Azeez Mustapha

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Quant Price Forecast: March 14

Quant (QNT/USD) experienced a significant shift in market structure. The price plummeted into a bullish order block at the demand level of $70.80, sparking hopes of a potential reversal.

QNT/USD Key Levels :

Supply Levels: $98.50, $122.00, $167.60
Demand Levels: $70.80, $56.30, $42.10

Quant Long-Term Trend: Bearish

In December, the price reached an oversold level of $167.60, with the Stochastic indicator signaling an overbought market. The price pressed against the upper Bollinger Band, which served as resistance, leading to a subsequent crash to the demand level of $98.50.

Price Forecast: QNT/USD Outlook

The buyers fought hard at the bullish order block of $98.50. This led to a price consolidation at this level. After consolidation in January, the sellers enforced a breakout.

The price is currently at the demand zone of $58.50, testing a previously unmitigated bullish order-block.   The Stochastic indicator also shows the price is oversold, presenting another opportunity for the bulls to seize control and establish a new upward trend.

Quant Medium-Term Trend: Bearish

On the daily chart, the price drilled through a bearish parallel channel. The bullish order block in the demand level of $70.80 has been tested. On the 4-hour chart, the price action shows a bounce and stall in price bearish motion.

The price is moving sideways and fluctuating at about the same point. This reveals the contention between major market movers at the demand level. The parallel channel provides an opportunity to generate crypto signals from price fluctuation, with a short-term target being a bounce up to the upper border of the bearish parallel channel.

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