Quant Price Forecast: February 24
The market price of QNTUSD may experience a possible reversal at the $130.854 support level to resume its upside moves soon. Should the bulls push higher and close above the $235.000 resistance value, a bullish breakout confirmation will reflect the improved market sentiment. Doing so will offer a higher footing for buyers to prolong this recovery. Thus, a post-retest rally may drive the prices high to hit the $400.000 resistance trend level.
Key Levels:
Resistance Levels: $200.120, $200.130, $200.140
Support Levels: $115.50, $115.40, $115.30
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 approaches the oversold region.
The sustained bearish pressure at the $134.888 support value has made the crypto price drop below the supply levels.
The price of Quant at the $130.854 low value below the two EMAs as the daily chart opens today is a result of low bullish momentum. Thus, traders who buy the coin during the bearish market will also make gains in the future.
Meanwhile, there is a possibility for a price reversal at the mentioned support as the market now approaches the oversold region of the daily stochastic. This upcoming bullish rally may likely break up the $235.000 high mark which might possibly hit the $400.000 supply value in the coming days in the long-term outlook.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD Price Reversal at the $130.854 Support Level
The currency pair is trading in a bearish market in its medium-term outlook. This is due to the high influence of the sell traders. Quant is possibly making its way up after hitting the $130.854 level to overcome support to signal a pump-up. It looks like the price will want to bounce up again in the medium term.
The market price of QNTUSD which increases to a $134.969 high level below the two moving averages as the 4-hourly session opens today suggests the return of the bulls to the market and improved bullish market sentiment. Thus, closing the 4-hourly session above $235.000 will put the trade more on the buy side.
Next, the coin is in an upward direction on the daily stochastic, therefore, if additional selling power is prevented, a post-retest rally may drive the prices high to hit the $400.000 resistance value soon in its medium-term time frame.
Place winning Quant trades with us. Get QNT here
Leave a Reply