Quant Price Forecast: July 29
The market price of QNTUSD could see a possible reversal at the $72.46 support level to resume its upbeat moves soon. Should the bulls push higher and exchange hands with the sell traders at the current support and close above the $150.00 resistance value, a post-retest rally may drive the prices high to hit the $160.00 resistance trend level, bolstering buyers for more recovery.
Key Levels:
Resistance Levels: $80.00, $90.00, $100.00
Support Levels: $65.00, $55.00, $45.00
QNTUSD Long-term Trend: Bearish (Daily chart)
QNTUSD‘s price may encounter a possible reversal at its current support soon. The crypto is presently below the resistance levels, indicating a bearish trend in its long-term perspective. However, there will be a change in trend soon as the market is in the oversold region.
The persistent bearish pressure by the short traders in the past few days is the cause of its bearishness in its recent low.
The price of Quant at the $72.46 low value below the two EMAs as the daily chart opens today is a result of low bullish momentum, resulting in a loss to the asset.
Meanwhile, there is a possibility for a price reversal at the mentioned support as the market now trades at the oversold region of the daily stochastic.
Thus, the upcoming bullish rally may likely break the $150.00 high mark to hit the $160.00 supply value in the coming days as it encounters a possible reversal at the $72.46 current low mark in the long-term outlook.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD Price Reversal at the $72.46 Support Level
The Quant possible reversal at the $72.46 current support is pertinent in its medium-term outlook. The coin price is below the EMA-50, suggesting a bearish trend, due to the high influence of the sell traders.
Earlier today, the coin sellers responded to the market and dropped the coin price to a low of $72.46 below the supply levels at the press time.
Thus, if buyers eventually wrestle trend control from sellers and rebound from $72.46 support, a positive breakout above the current support is needed to confirm the potential Bull Run.
Notably, the QNTUSD price is around the 15% range of the daily stochastic, indicating that the market is oversold already.
Hence, a possible reversal at the $72.46 support is likely soon and this might drive the prices high to hit the $82.04 previous resistance value soon and extend to reach the $160.00 upper resistance level in its medium-term time frame.
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