Quant Price Forecast: December 30
The Quant (QNTUSD) is on its way to the resistance trend levels. The coin price may rally up to the $300.000 high level if the bulls could challenge the selling pressure and break up the $235.000 supply level, the price may further extend to the above-mentioned upper resistance value.
Key Levels:
Resistance Levels: $200.100, $200.200, $200.300
Support Levels: $112.000, $111.000, $110.000
QNTUSD Long-term Trend: Bullish (Daily chart)
The QNTUSD market remains bullish on the higher time frame. This is clear as we can see the prices trading above the EMA-50.
The bulls’ activity at the $117.758 supply level during yesterday’s session has made the coin price remain strong above the supply trend line.
This was overridden by the bears to the $110.760 support value above the EMA-9 as the daily chart opens today. Hence, staying above the EMA-9 indicates a strong possibility for a bullish correction.
If the Quant price currently exchanges hands at the $110.760 support mark, and with sustained buying pressure, it is likely to retest the $235.000 supply zone.
Similarly, the coin price now approaches the oversold region, this suggests a shift in trend soon and this forthcoming development may drive the crypto price to test the previous high at the $235.000 level and extend to the $3000.000 upper resistance trend line in the days ahead in its higher time frame.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD May Rise Further to the $300.000 High Level
The Quant price is in a bearish trend in its medium-term outlook. This is because the sell traders are now involved in the order flow. The coin after completing the downward moves has been trading in green but below the supply trend line in the previous action.
The coin price finds reliable resistance at around the $110.760 mark below the two EMAs, resulting in intraday gains as the 4-hourly session resumes today. Thus, investors who buy during the massive bearish market will also make profits.
However, the bullish growth will face a formidable resistance trend line at the aforementioned mark, which may invalidate the selling pressure.
Thus, approaching the oversold region as indicated by the price projector shows a high possibility for a bullish trend continuation. Then, there is a high probability of the coin price going up to its recent swing high, which is the $235.000 supply level, this may possibly increase to the $300.000 supply mark in the coming days in the medium-term outlook.
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