Quant Price Forecast: February 28
QNTUSD may break up the $199.500 high mark soon as the coin is on the verge of reversal after completing the low dips. Therefore, an increase in the bulls’ pressure may break up the mentioned supply value and this may swing up the crypto’s price to $350.000 and $400.000 supply trend lines and beyond.
Key Levels:
Resistance Levels: $235.200, $235.300, $235.400
Support Levels: $120.000, $119.000, $118.000
QNTUSD Long-term Trend: Bearish (Daily chart)
The market value of QNTUSD can be seen in a bearish scenario in its long-term outlook. This is due to interference from the sell traders. The coin price can be seen below the two EMAs which are glued together, indicating a downward trend. However, this trend will soon be invalidated as the buy investors are warming up to take over the market.
The sustained bearish pressure to the $129.100 low value during yesterday’s section has dropped the coin price below the supply trend levels.
The bulls made a pullback and pushed the price of Quant up to a $132.893 high level below the two EMAs as the daily session opens today. This is an indication of the start of a new bullish cycle. Thus, a break above the $174.616 previous swing high would intensify high buying pressure on the crypto.
Similarly, the Quant price is about to experience a bullish correction trend pattern as the market is below the 20% value of the daily stochastic. So the price could be ready very soon for another jump. In this case, the price may break up the $199.500 resistance value which may possibly extend to the $400.000 supply trend line soon in its higher time frame.
QNTUSD Medium-term Trend: Bullish (4H Chart)
The QNTUSD pair is in an uptrend in its medium-term outlook. The price can be seen above the EMA-50, this means that the pair is in a bullish market zone.
The smooth ride to the $132.893 high mark shortly after the 4-hourly session begins indicates the high impact of the bulls in the market. Further, if the bulls could prove stronger and additional selling power is prevented the coin price may likely break above the $199.500 supply value.
In addition to that, there is a possibility of a further bullish breakout as the market price of Quant is in an uptrend on the daily signal. Therefore the bulls are expected to continue with the bullish correction, if this is achieved, the coin price might possibly break up the $199.500 previous high which may likely reach the $400.000 high mark sooner in its medium-term perspective.
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