Quant Price Forecast: December 21
The Quant (QNTUSD) price will rise above the current resistance level, watch out for buy. After testing the bottom support, a usual response would be a bullish reversal; if buyers should triple their efforts to forecast a bullish increase in the market above the $192.689 resistance level, the $300.00 upper high level may be retested.
Key Levels:
Resistance Levels: $200.200, $200.300, $200.400
Support Levels: $108.000, $107.000, $106.000
QNTUSD Long-term Trend: Bearish (Daily chart)
The Quant price seems to have pullback a little but the overall trend is still bearish in its long-term outlook. Sellers were involved as the coin price was driven low to the $104.988 value during the previous action.
As a result of price rejection at this level, there was an immediate reversal. Buyers pushed the price higher to the $108.137 resistance level as the daily chart begins today. This implies that the buy traders are back into the market to push the crypto higher for further buying opportunities and evidence of a bullish recovery.
Hence, we have a bullish bias that the market value of QNTUSD will rise further to the upside if the buying pressure should increase.
In addition to that, the crypto is in an upward trend in the oversold region as shown by the daily stochastic. If the coin buyers could hold the price above the $235.000 high mark and close a candle, closing above the mentioned resistance will signal a potential BUY. As a result, the price could pump or surge upsides to hit the $300.000 resistance value in the days ahead in its long-term outlook.
QNTUSD Medium-term Trend: Bearish (4H chart)
Due to the interference from the sell traders, the momentum on the medium-term view is still bearish. The price of QNTUSD can also be sighted below the supply trend lines. The previous action of the short traders at $104.988 has put the crypto’s price below the supply lines.
Today, the coin made an upward move to the $108.137 supply value below the moving averages as the 4-hourly session opened. This is an indication that the bulls are actually buying the coin and are also set to move the coin price to the overhead resistance value. If the bulls should increase their price action, and bullish momentum is sustained, the ongoing correction will be prolonged.
Similarly, further upsides are likely as the price signal is pointing upward in the oversold region of the price indicator, this means that the upward rally will still continue and may likely hit the $300.000 supply value soon in the medium-term outlook.
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