Quant Price Forecast: June 7
Quant price might possibly breakup the $163.14 supply value after completing the low-dips. If the coin price could sustain above the pattern supply trend line, the price may trigger up to the overhead resistance at the $400.00 level, thus a clear buy signal.
Key Levels:
Resistance Levels: $200.20, $200.30, $200.40
Support Levels: $106.00, $105.00, $104.00
QNTUSD Long-term Trend: Bullish (Daily Chart)
The QNTUSD pair portrays a bullish market trend in its long-term outlook. The price responded to the shift in the market structure and is currently above the EMA-50.
The sustained bullish pressure to the $119.86 resistance value in the past few days has made the cryptocurrency remain in an uptrend in its recent times.
The drop in the price of Quant to the $109.00 low value above the EMA-9 as the daily chart opens today has no serious effect on the market as the price remains in an uptrend.
However, with this trend, traders may buy the coin at a low price and move the market higher.
Hence, staying above the supply levels indicates a strong possibility for a bullish correction. A strong break up above the $154.54 resistance point would strengthen the bullish pressure
Base on the outlook, should the bulls push higher and close above the $163.14 high mark, a bullish breakout confirmation will reflects 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 $400.00 resistance trend levels in the days to come in its higher time frame.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD Price to Face the Upside Soon
The QNTUSD pair portrays a bearish market trend in its medium-term outlook. The price responded to the shift in the market structure and is currently below the moving averages.
The coin having dropped down to a low at the $114.96 level in the previous action has been rejected by the bulls at the moment.
The market price of QNTUSD is currently trading at the resistance level of $112.65 slightly below the two EMAs; this assures or confirms the bull’s gradual return to the market. The longer the price stays above the mentioned level, the more pressure builds up to reach a key significant level at the upside.
In addition, the daily stochastic indicates an upward trend, this means that the buy investors may likely continue with the bullish correction pattern to retest the $119.91 high value which might further extend the Quant price to reach the $400.00 resistance mark soon in its medium-term outlook.
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