Quant Price Forecast: May 27
The market price of QNTUSD is set to retrace at the $100.06 support value to resume its upside moves soon. The selling pressure may possibly end soon to face the positive side as usual as the coin market now trades at the oversold region. Therefore; if buyers should accelerate their price actions in the market, the coin price could turn upside to retest its previous swing high of $167.81 which may further extend to the $400.00 upper resistance level and beyond.
Key Levels:
Resistance Levels: $130.00, $140.00, $150.00
Support Levels: $105.00, $104.00, $103.00
QNTUSD Long-term Trend: Bearish (Daily chart)
QNTUSD indicates a downward trend with a bearish sentiment in its long-term perspective. The coin is trading below the two EMAs. However, the current trend will soon be nullified as the market now trades the oversold region.
The sustained high volume by the sell traders in the past few days has made the cryptocurrency price drop below the supply levels in its recent low.
Today, the Quant price is trading below the two EMAs at the $100.06 low level on the daily chart. This is a result of a low bullish impact on the coin. Hence, buyers who check in on this current trend will also make gains in the future.
Therefore if the current support holds and the bulls should increase their activities in the market, the coin price may likely reverse at the mentioned support and face the upside to a psychological level.
The coin has fallen below the 10% range of the daily stochastic. It implies that the selling pressure is likely to end soon. This will compel buyers to resume sooner and take the price action up to a significantly high level and in this case, the price of QNTUSD might be exposed to the $400.00 upper resistance level in the nearby days in its long-term perspective.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD Price Set to Retrace Soon
The Quant price is forming lower lows and lower highs on its medium-term chart. Further, the price is trading below the two EMAs; it means that it’s in a bearish market zone at the moment.
The price drop to the $101.90 low value during the previous action has made the coin price trade below the supply levels. This will soon be invalidated as the trend has just resumed its rising pattern but has not yet reached its goal.
The market price of QNTUSD which increases to a $101.36 high level below the two moving averages as the 4-hourly session opens today suggests the return of the bulls to the market and an improved bullish market sentiment. Thus, closing the 4-hourly session above $118.99 will put the trade more on the buy side.
Further, investors may seize the opportunity now and buy the coin at a lower price and look for more gains ahead.
Meanwhile, further downsides are unlikely as the market price of Quant now points up in the oversold region. The coin will resume an uptrend soon, so we can now grow in confidence that a potential buyer is coming near.
The price jump could hit the the$400.00 upper resistance level, indicating a strong supply zone for a potential BUY in its higher time frame.
Place winning Quant trades with us. Get QNT here
Leave a Reply