Quant Price Forecast: June 1
The Quant price might break from support and resume its uptrend soon if buyers should trigger their buying pressure and put a hold on the current support level at $90.00, the bulls may prolong the correction to hit the previous high level at $154.75 which perhaps could extend to as high as the $160.00 high level, resulting to a stable recovery and a good signal for the coin buyers.
Key Levels:
Resistance Levels: $93.00, $94.00, $95.00
Support Levels: $85.00, $84.00, $83.00
QNTUSD Long-term Trend: Bearish (Daily chart)
The Quant is in a bearish trend in its long-term view. Meanwhile, the coin price is about to break out from the support level as the new correction is taking place. Further, the price is trading below the moving average which confirms its bearishness.
The price of the cryptocurrency has fallen below the supply trend lines as a result of the bears’ pressure, which brought it to a low of $90.00 during yesterday’s session, but it now appears like the crypto price is ready to break out from the support level to and drive us upward.
The bulls also hindering the market price of QNTUSD from being smashed by the bears made a ride to the $91.57 supply level as a pullback shortly after today’s daily chart opened.
Hence, the bullish momentum might be triggered and the price may likely break out from the current level to retest the previous resistance barrier at $154.75 if the current support remains unmoved and the bulls should speed up their activities in the market.
Additionally, the daily stochastic suggests an uptrend. This indicates a bullish continuation of the upward, which will allow the bulls to continue the current rally and this could break out from the support level to hit the $160.000 resistance threshold or higher in the long-term forecast.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD Price Breaking Out from Support Soon
In the medium term, the Quant market is also bearish and may break out from the support level to face the upside soon. This is clear as we can see the prices facing the resistance level below the EMA-50.
The sustained bearish pressure on the currency pair at the $90.81 supply level during the last session sustained it. This has made it easier for the coin to remain in an uptrend in its recent high.
Now, the bulls couldn’t relent, so the current price at the $91.57 supply level below the EMA-50 as the 4-hourly chart begins today is an indication of the bulls’ return to the market to breakout from support and resume the uptrend.
A strong push by the long traders above the $107.85 previous high point with a 4-hour candle closing could signify a shift in the market dynamics. Such a breakout would provide an opportunity for buyers to regain control and potentially drive the price of QNTUSD toward the upper resistance level.
Adding to that, the Quant market remains in an uptrend on the daily stochastic. Thus, there is a possibility of a bullish breakout from the $91.57 current supply level if the bulls should add more effort to their tension in the market. The next target could be the $160.00 supply trend mark in the days to come on the medium-term chart.
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