Quant Price Forecast: October 21
QNTUSD is very likely to experience a change in the trend soon by facing the positive side after potential upcoming dips. Should the bulls increase their momentum, the support level at $171.615 will be corrected to the upside which may extend the coin price to a $400.000 high mark.
Key Levels:
Resistance Levels: $233.000, $234.000, $235.000
Support Levels: $171.600, $171.500, $171.400
QNTUSD Long-term Trend: Bullish (Daily chart)
Despite the moves from the short traders, the QNTUSD pair still trades in a bullish market on the daily chart. The short traders are now involved so the price action is found around the support area. Thus, the coin may likely experience a shift in the trend soon.
The market price at the $170.462 support value which is above the moving averages as the daily chart resumes today implies that traders are still buying at this dip.
However, as the crypto market is still struggling with its resistance, the coin price is bound to retrace at the mentioned support and rise above $200.000.
Likewise, there is a possibility of price rejection at the $171.615 level as the price of Quant approaches the oversold region. This means that the selling pressure will end soon and the bullish reversal pattern may push the coin price up to the $400.000 resistance trend line in the coming days in its higher time frame.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD to Reverse Soon
As an outcome of low bullish momentum, the price of QNTUSD is in a bearish trend zone.
The sellers are hindering the market from smashing through the resistance zones. Therefore, if the bulls increase their tension in the market, the price tendency will move above the key levels.
The price of Quant at the $174.989 support level is due to the inflow and brief returns of the sell traders which will soon be invalidated soon as the market is oversold already. Buyers are advised to buy at the current pattern to gain more strength or profits in the future.
Now, with the price projector indicating the coin price pointing upwards at the oversold region means that the selling pressure has been exhausted and the bulls are about to take over the market.
It is therefore possible that the bullish correction phase may hit the $400.000 supply mark sooner in the medium–term.
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