Quant Price Forecast: January 17
The Quant (QNTUSD) price is very likely to break up at the $153.83 level soon after completing the dip lows. Therefore, if buyers can put more effort into their tension in the market, the trapped bullish momentum would be released and in this case, the $160.00 upper high level might be the target.
Key Levels:
Resistance Levels: $116.00, $117.00, $118.00
Support Levels: $100.00, $99.00, $98.00
QNTUSD Long-term Trend: Bearish (Daily chart)
QNTUSD pair is in a bearish market zone in its higher time frame, as seen from the chart above. Further, the coin price which is currently recovering and trades below the resistance trend levels may break up at the $153.83 level to activate the bullish race.
The cryptocurrency price has been below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days.
The buy traders pushed the market price of Quant up to the $118.45 resistance value slightly below the EMA-50 shortly after the daily chart opens today. Thus, an increase in the buying speed may break up at the $153.58 level, which is an indication that the buy traders are responding to the price actions in the market.
The market price of QNTUSD is pointing up on the daily stochastic; this means that the momentum in the coin price will likely remain and continue in an upward move and this may break up at the $153.83 level to reach the $160.00 upper resistance level in the days ahead in its higher time frame.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD Price to break up at $153.83 Level
The momentum on the medium-term outlook looks bearish but it is starting to turn bullish as can be seen from the chart now.
The price of QNTUSD may break up at the $153.83 level if the bulls add additional effort to their buying momentum. The coin is trading close to the resistance level, so it seems likely that the bulls are about to take over and push us higher.
Despite the interactions from the short traders, the bulls caused a rise to a $118.45 high level below the EMA shortly after the commencement of the 4-hourly chart opens today. Thus, buyers must add more pressure to their activities to move the market beyond the current price level.
Meanwhile, the market is pointing up on the daily stochastic. This will now compel the long traders to emerge and push the market price of Quant up to a significant level of $160.00 upper high level in the days ahead in its medium-term time frame.
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