Quant Price Forecast: June 24
QNTUSD prepares for a new bullish phase as the selling pressure is winding off. The last few days have been notably bearish for the crypto following the lead of Bitcoin correction. However, the crypto is about to rise again. Therefore, if the current support at $74.70 level holds, the buy traders could exert more force into the market. Doing so will offer a higher footing for buyers to prolong this recovery. Thus, a post-retest rally may drive the coin prices high to hit the $150.00 resistance trend level before the next dump.
Key Levels:
Resistance Levels: $100.00, $101.00, $102.00
Support Levels: $75.00, $74.00, $73.00
QNTUSD Long-term Trend: Bearish (Daily chart)
QNTUSD is getting ready for a new bullish phase in its long-term perspective. The coin is trading below the EMA-50, indicating a bearish sentiment. Thus, buyers are prepared for a new bullish phase as the crypto market has reached the oversold region.
The interference from the sell traders at $77.30 in the last session has made the coin price drop below the supply trend lines in its recent low.
As the daily chart begins today, bearish actions sent the coin price lower, to the $74.70 support level below the EMA-50.
However, the bulls are now prepared for a new phase: if the bulls could increase their buying pressure and exchange hands with sell traders at the $74.70 low mark, the Quant price may swing up to retest the $150.00 high point, resulting in an intraday gain for the coin traders.
Further, the Quant price may likely reverse from the $74.70 support level and turn positive as the market is already oversold. So, the price could be ready very soon for a new bullish phase. In this case, a significant level above the $150.00 supply level might be reached in the coming days as the coin prepares for a new bullish phase in its higher time frame.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD Preparing for a New Bullish Phase
A new bullish correction could be seen taking place on the medium-term outlook. The QNTUSD pair’s orientation trades in a bearish market in its medium-term outlook. The price bar is seen below the moving averages with a new bullish phase just beginning.
The sustained bearish pressure to a $75.14 low point in the previous action has made the coin price remain below the supply trend line in its recent time.
The current price of Quant at the $75.38 supply level below the moving averages as the 4-hourly chart resumes today is a bullish recovery pattern, indicating that the bulls are preparing for the new bullish phase.
Thus, if the bulls regroup and push higher, a steady rise above the $94.00 previous supply value will accelerate the new bullish correction phase to a significant key level in the supply area.
The QNTUSD price is recovering steadily as the bulls are now set to push the coin prices further. Hence, the daily stochastic also suggests an uptrend, if the current support remains unmoved and the bulls speed up their activities in the market, the new bullish phase pattern may increase the coin price to a $138.00high value which might hit the $150.00 supply trend line in the days ahead in its medium-term outlook.
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