Quant Price Forecast: April 24
The QNTUSD price may likely resume an uptrend soon as the coin market is now oversold. The coin might soar higher to retest the $235.00 previous high value if all the current support holds. Should the bulls trigger their efforts and exchange hands with the short traders at the $106.94 support value, the bullish correction pattern may likely extend the coin price to hit the $350.000 high mark. Thus, a turnaround and clear buy signal for the coin holders.
Key Levels:
Resistance Levels: $200.20, $200.30, $200.40
Support Levels: $111.00, $110.00, $109.00
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 coin has been having a series of downward moves by the bears in the past few days and has made the price remain below the supply levels.
The price responded to the shift in the market structure and is currently below the moving averages at the $106.94 support level as the daily chart resumes today. This will soon be invalidated as the coin market has reached the oversold region.
Meanwhile, the current price at a $106.94 low value below the supply trend lines has not stale the market condition of the crypto. Thus, traders who buy the coin during the bearish market will also make gains in the future.
Further, the selling pressure is exhausted as indicated by the daily stochastic which is pointing down below the 5% in the oversold region. This means that the selling pressure will soon end, hence, should the bulls exchange hands with the sell traders at the aforementioned support and close above the $235.00 resistance value, additional intraday gains would be recorded for the buy investors which could lead the price of QNTUSD to the $350.00 upper resistance value in the days ahead in its long-term outlook.
QNTUSD Medium-term Trend: Bearish (4H Chart)
QNTUSD Price Sets for a Potential Upswing
QNTUSD is trading in a bearish market zone in its medium-term perspective. The prices can be seen below the moving averages at the moment. However, this cannot stay long as the market is currently facing its correctional phase.
The price drop to the $108.78 low value during the previous action has made the coin price trade below the supply levels. This will soon be invalidated as the trend has just resumed its rising pattern but has not yet reached its goal.
As a result of price rejection at this level, there was an immediate reversal. Buyers move the price up again to a high at $106.94 value as the 4-hourly chart resumes today as the buying pressure has just started.
Buyers must redouble their efforts to forecast a bullish increase in the market above the $235.00 level, instead, as momentum continues to deteriorate, the sale will intensify.
From the look of things, further downwards may not likely be possible as the market is oversold already. The Quant market is gaining momentum now and may hit the $350.00 supply level in the coming days in its medium-term outlook.
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