Quant Price Forecast: March 1
The QNTUSD pair will likely revisit the $235.000 high value as it is about to resume its bullish race. The coin is trying hard not to fall heavily to the downside. Therefore, if the bulls could trigger their forces in the market, the price may likely reverse and turn positive to reach the $400.000 resistance level and beyond.
Key Levels:
Resistance Levels: $200.200, $200.300, $200.400
Support Levels: $123.000, $122.000, $121.000
QNTUSD Long-term Trend: Bearish (Daily Chart)
The Quant price is in a bearish trend in its long-term view. The price bars can be seen below the moving averages. This is due to the high inflow from the sell traders. However, there is about to be a turnaround for the QNTUSD buy traders.
The sustained bearish pressure in the past few days has kept the crypto price below the supply trend levels at its recent low.
Meanwhile, the current price at a $129.117 low value below the supply trend lines has not stale the market condition of the crypto. Thus, traders who buy the coin during the bearish market will also make gains in the future.
The Stochastic is also showing the market is already oversold. This means that the selling pressure has been exhausted. This will compel the bulls to resume the bullish trend and might possibly revisit the $235.000 previous supply level which may further lead the Quant price to the $400.000 resistance level in the days to come in its long-term outlook.
QNT (USD) Medium-term Trend: Bearish (4H Chart)
QNTUSD Price to Revisit the $235.000 High Value
The market price of QNTUSD is currently trading in the bearish market zone. This is due to the high inflows from the sell traders.
The short traders made a downward move to the $129.100 support level on the 25th of February which has made the coin price remain below the supply trend levels in its recent low.
Actions from the bears further dropped the crypto’s price to the $129.117 support level below the two EMAs as the 4-hourly chart resumes today.
Hence, should the bulls exchange hands with the sell traders and close above the $168.363 resistance value, additional intraday gains would be recorded for the buy investors.
Additionally, the price of Quant might possibly swing up above its previous high at the $235.000 value soon as the coin market price now trades in the oversold region, this will compel the bulls to resume the upward movement and in this case, the price might push higher to the $400.000 supply mark and beyond in the days ahead in its medium-term time frame.
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