QUANTUSD Price Forecast: Quant Breaks Out from Rising Wedge

QUANTUSD Price Forecast: March 31

Quant reached a swing high in December, marking the completion of its bullish trend. Upon testing the $167.570 resistance level, the market reversed, initiating the current bearish trend.

QUANTUSD Key Levels

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

Quant Long-Term Trend: Bearish

The bullish trend was significantly overbought, yet buyers maintained momentum until price peaked at $167.570. Following the reversal at this key level, the Stochastic indicator swiftly retreated from the overbought zone, reinforcing bearish sentiment.

QUANTUSD Forecast: Quant Outlook

Just before breaking $122.00 in December, the Smoothed Heikin Ashi candles turned red, signaling a shift in momentum. Price gradually declined to the $70.80 support level after a brief consolidation above $98.50. Currently, price is testing $70.80, aiming for the next support level. Both the higher and lower timeframes confirm bearish sentiment, as reflected by the red hue of the Smoothed Heikin Ashi candles. Bears are expected to drive prices lower.

Quant Short-Term Trend: Bearish

On the lower timeframe, price initially reacted to the key level, forming a bullish wedge upon bouncing off. However, bears have regained control, driving price back to this level for a second attempt at a breakdown. If sellers maintain pressure, a further decline is likely.

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