Quant Price Forecast: November 22
The Quant market registered a positive trend today. Based on the outlook, in case the bulls should defend the selling pressure and push higher, an increase in the bulls’ momentum may swing above the resistance level at $115.00 and this may increase the Quant price to a $120.00 upper high trend line.
Key Levels:
Resistance Levels: $104.00, $105.00, $106.00
Support Levels: $92.00, $91.00, $90.00
QNTUSD Long-term Trend: Bullish (Daily chart)
QNTUSD remains bullish on the higher time frames and this may swing above the $116.00 supply mark soon. This is clear as we can see the prices trading above the EMA-50.
However, the bulls’ pressure to the $100.90 high value in the past few days has sustained the coin price above the resistance trend levels in its recent high.
The coin price finds reliable resistance at around $102.60 level above the EMA-50 as the daily chart opens today, resulting in intraday gains. Hence, staying above the EMA-50 indicates a strong possibility for a bullish correction.
If the Quant buyers could add more aggression to their buying motives, the price may swing above the $115.00 previous high mark which would put the crypto market more on a buy side.
Additionally, the QNTUSD price is in an uptrend on the daily signal, this suggests a shift in trend soon, and this forthcoming development may swing above the $116.00 supply mark which could extend to a $120.00 upper resistance trend line in the day ahead in its higher time frame.
QNTUSD Medium-term Trend: Bullish (4H chart)
QNTUSD Price Swinging above the $116.00 Supply Mark
QNTUSD is also trading in the bullish trend above the EMA-50 in the medium-term outlook. The price may swing above the $116.00 supply mark if additional efforts are put in place by the bulls.
This breakout triggers a smooth bull cycle pattern, which in theory, should lead the prices to an overhead trend line.
Today’s 4-hour bullish candle at $102.41 which further rises to a $102.59 supply mark above the moving averages confirms the bulls’ dominance in the market. However, there are bullish signals above the level of $100.59 which indicates a possible further increase in the market value.
Further, the Quant price indicates an upward momentum on the daily signal, this indicates that the pair may likely swing above the $113.90 supply mark which could extend to a $120.00 upper resistance trend mark soon in its medium-term outlook.
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