Quant Price Forecast: April 8
QNTUSD price may possibly retrace to the upside soon. The coin is in a downward trend and it is likely to pull back to resistance after updating the lows. Should the coin price make a retest at a $163.14 high mark and sustain above the $227.00, the potential rally could surge higher to hit the $400.00 trend line and above.
Key Levels:
Resistance Levels: $200.20, $200.30, $200.40
Support Levels: $120.00, $119.00, $118.00
QNTUSD Long-term Trend: Bearish (Daily Chart)
The QNTUSD pair portrays a bearish market trend in its long-term outlook. The price responded to the shift in the market structure and is currently below the moving averages.
The bulls were able to push the cryptocurrency up to the $122.04 resistance value during yesterday’s session and have enhanced the price to stay in green below the moving averages ready for an upward performance.
The coin price on the daily chart today is currently facing resistance and trading at the $123.58 correction level. This indicates the return of the long traders to dominate the market at the moment. Further, the rising prices reclaimed more confirmation for a bullish recovery.
Thus, the current correction phase may likely continue as the momentum indicator points upward, we can now expect the price of Quant to reach a significant level at the $400.00 supply trend line in the days ahead in its long-term perspective.
QNTUSD Long-term Trend: Bearish (4H Chart)
QNTUSD Price to Retrace Soon
The inflows from the short traders now dropped the market price of QNTUSD in a bearish move in its medium-term outlook.
The high order by the bears to the $122.04 low value in the previous section has made the coin price stay below the trend lines in its recent period.
After a series of moves by the long traders to a high at the $125.81 level, the bears later dropped the price down to the $122.71 support mark slightly below the two EMAs which were glued together. Thus, the price may likely reverse at the mentioned support if the bulls should add more effort to their buying motives in the market.
Hence, if the buy traders should push higher and the Quant’s price could break above the $134.86 resistance mark, the selling rally sentiment will be hindered and the upcoming hike could hit the $400.00 high value in its medium-term perspective.
Place winning Quant trades with us. Get QNT here
Leave a Reply