Quant Price Forecast: November 8
The Quant price is encountering substantial buying pressure and looks promising around the $102.95 threshold. There is a possibility for the crypto to swing up further and test the supply level of $112.50. Should the bulls increase their pressure, the resistance level of $102.95 may not hold and it may extend to a $116.00 high level and beyond.
Key Levels:
Resistance Levels: $104.00, $105.00, $106.00
Support Levels: $95.00, $94.00, $93.00
QNTUSD Long-term Trend: Bullish (Daily chart)
QNTUSD looks promising and remains in an upward trend in the higher time frames. This is clear as we can see the prices trading above the moving average lines indicating an uptrend.
The bulls were able to push the coin up to the $101.98 resistance value during yesterday’s session and have enhanced the price to stay in green above the resistance level in its recent high.
At the time of writing, the market is presently facing overhead resistance at the $102.95 high value above the supply trend line as the daily chart resumes today, resulting in intraday gains.
Hence, an upside breakout above the $112.50 mark with a daily candle closing will offer buyers a solid foothold to push the Quant price higher.
Adding to that, the daily signal indicates an uptrend, therefore, closing above the indicated resistance will indicate a possible BUY if coin buyers are able to maintain support above the $112.50 high mark and close a candle. In light of this, the price of QNTUSD may pump or surge higher and reach the $116.00 resistance level as the price looks promising in its higher time frame.
QNTUSD Medium-term Trend: Bullish (4H chart)
QNTUSD Price Trades in an Uptrend
On the medium-term outlook, the QNTUSD pair looks promising and trades in an uptrend above the resistance zone. Firstly, the crypto has broken above the moving average which indicates a possible rise of the pair.
The sustained bullish pressure at the $101.49 supply value in the past action has sustained the coin price above the resistance levels in its recent high.
The market price of Quant is currently trading at the $101.82 supply level above the EMA-50, as the 4-hour chart begins today, resulting in intraday gains. Hence, staying above the resistance trend lines indicates a strong possibility for a bullish correction.
In addition, there is a possibility of further increase in the price of QNTUSD, if the buy traders should increase their price actions and all the current support level holds, a psychologically key level at the $116.00 supply level might be reached as the coin looks promising in its medium-term time frame.
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