Quant Price Forecast: May 4
QNTUSD‘s price is now set for an upswing and may likely reclaim another crucial supply level soon as it is about to resume its bullish race. The crypto is trying hard not to fall heavily to the downside. Therefore, if the bulls could trigger their forces in the market, the coin price may likely rise further to reach the $150.00 upper supply level and beyond.
Key Levels:
Resistance Levels: $102.00, $103.00, $104.00
Support Levels: $85.00, $84.00, $83.00
QNTUSD Long-term Trend: Bearish (Daily Chart)
In the long term, the Quant pair is displaying a negative trend. Meanwhile, the price is set for an upswing as buyers just reclaimed another crucial supply below the trend levels.
The coin price has been below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days. Thus, there seems to be a turnaround soon, as the coin buyers are set for an upswing.
A rise to a $104.66 high level below the supply levels by the bulls shortly after the daily chart opens today affirms the returns of the long traders into the market. Thus, the price of QNTUSD is set for an upswing if the bulls can redouble their efforts and push above the current supply level.
Hence, the stochastic oscillator which is also pointing up means that the price action is set for an upswing. In light of this, the bulls could therefore aim at the psychological level of $150.00 resistance value in the days ahead as Quant buyers reclaimed crucial supply levels in its long-term perspective.
QNTUSD Medium-term Trend: Bullish (4H Chart)
QNTUSD Price Set for an Upswing
The Quant market is set for an upswing and remains in a bullish trend in its Medium-term outlook. The price bars can be sighted slightly above the supply trend level.
Despite the moves from the short traders, the bulls managed to push the coin price up to the $103.60 supply level during the previous session and sustained it. This has enabled the coin price to set for an upswing in its recent high.
The market price of QNTUSD which increases to a $104.66 high level above the moving averages as the 4-hourly session opens today suggests the return of the bulls to the market and an improved bullish market sentiment. This rising price on the verge of a pennant pattern breakout hints opportunity for buyers to target the $117.20 resistance level.
Additionally, the coin is in an upward direction on the daily stochastic, therefore, if additional selling power is prevented, a post-retest rally may drive the prices high to hit the $150.00 resistance value soon in its medium-term time frame.
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