Quant Price Forecast: December 19
The Quant (QNTUSD) pair is now on its way to the supply zone after a series of bearish moves. The bulls will push higher this time around. The bullish correction phase is due to the brief return of the long traders into the market. Therefore, if the buy investors should add more strength to their inflows in the market and closes above the $235.000 supply value, then we can go for a clean buy position.
Key Levels:
Resistance Levels: $200.200, $200.300, $200.400
Support Levels: $112.000, $111.000, $110.000
QNTUSD Long-term Trend: Bearish (Daily Chart)
The Quant price is in a bearish trend in its long-term view. The bears are now involved in the order flow, but it seems that the bulls are about to take over and push us higher. The sustained bearish pressure at the $110.766 support value during the previous action has made the crypto’s price stay below the supply trend line.
The crypto rebounded from the $110.766 low value while the bulls moved the coin price up to a $110.913 high level below the two EMAs as a pullback from the bulls as the daily chart resumes today. This is a result of more concerns from the buy investors. Therefore should the bulls increase their buying pressure in the market, the price may likely surge higher above the $192.689 resistance level.
Additionally, the momentum indicator which is pointing up in the oversold region indicates that the selling pressure is exhausted and the price of QNTUSD is likely to go higher from here, as a result of this the coin price might possibly reach the $400.000 high trend mark soon in the higher time frame.
QNTUSD Medium-term Trend: Bearish (4H Chart)
QNTUSD Will Increase Further
The market price of QNTUSD is currently trading below the resistance trend lines in the medium-term outlook. This is due to the inflow from the short traders.
The crypto has been interfering with the sell traders in the previous action and has dropped the price to a low of $108.580 value. Further, the price is gathering momentum and has decided to face the upsides to achieve more gains.
The coin made a bullish correction at the $110.913 high level as an indication of more commitment from the buy traders coming back into the market to push the crypto further to the upside.
Similarly, we will now be looking at the continuity of the bullish run as the price projector is now pointing in an upward direction in the oversold region, indicating an uphill momentum. From the look of things, the crypto will possibly keep growing and the $400.000 supply value might be the target in the days ahead in its medium-term outlook.
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