Quant Price Forecast: August 21
The QNTUSD price shows signs of upward retracement and a swift increase is expected to follow soon. If all the current support holds and the bulls should trigger their efforts and break up the $165.00 supply trend line, the bullish correction pattern may likely extend the coin price to hit the $350.00 high mark. Thus, a turnaround and clear buy signal for the coin holders.
Key Levels:
Resistance Levels: $120.00, $130.00, $140.00
Support Levels: $100.00, $90.00, $80.00
QNTUSD Long-term Trend: Bearish (Daily Chart)
The Quant price is forming lower lows and lower highs on its higher time frame. Further, the price is trading below the two EMAs; it means that it’s in a bearish market zone at the moment.
The bears’ pressure on the crypto in the past few days has dropped the price below the supply trend levels in its recent price level.
A rise to a $100.43 high level by the buying traders shortly after the daily chart opens today affirms the returns of the long traders into the market.
Thus, the price of QNTUSD is set to advance further if the buy traders can redouble their efforts and push above the current supply level as the coin price has just resumed its bullish trend pattern.
With the overall market trend still bearish, the QNTUSD price is likely to plunge higher and retest the high accumulation zone of $165.00, and return a bullish sentiment back to the crypto market.
Notably, the Quant price shows sign of upward retracement by pointing upward on the daily signal, in this case, the price of Quant might continue its bullish trend pattern, and the price could grow further to reach the 350.00 supply mark sooner in its long-term outlook.
QNTUSD Medium-term Trend: Bullish (4H chart)
QNTUSD Price to Retrace Upward
The QNTUSD pair is in a bullish market zone in its medium-term time frame as can be seen from the chart above. The price is currently recovering and trades above the EMA-9. This is an indication of an uptrend.
The bullish reversal at the $99.06 high value in the previous action has sustained the crypto above the trend line in recent times.
The coin price at a $100.43 resistance value above the EMA-9 is undeniably bullish as the 4-hour session opens today. Thus, the coin price will grow further if the buy traders could add more pressure to their buying actions in the market.
Such a breakthrough would provide an opportunity for buyers to regain control and potentially drive the price toward the $127.46 previous high mark.
Adding to that, the price of QNTUSD shows signs of upward retracement by pointing up the daily signal. In light of this, the bullish retracement pattern might reach a $350.00 high mark in the coming days in its medium-term outlook.
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