Quant Price Forecast: January 2
The Quant (QNTUSD) price is likely to face buying pressure soon. The coin may likely reverse and face the upside if all the current support holds in place, and the coin price may increase further to a $400.000 high trend line which indeed will be a turnaround for the coin holders.
Key Levels:
Resistance Levels: $200.200, $200.300, $200.400
Support Levels: $106.500, $106.400, $106.300
QNTUSD Long-term Trend: Bearish (Daily chart)
The QNTUSD price is in a bearish trend in its long-term view. The price action can be seen below the resistance trend lines, this is because the short traders are now involved in the order flow. The pressure from sellers in the previous action at the $96.001 low value actually adds to the bearish impact on the market.
However, the bulls made a correction at the $112.000 high mark below the moving averages as the daily chart opens today.
Due to low bullish momentum, the bears caused a drop in the price of Quant to the $106.551 support value below the two EMAs as the daily session opens today.
Meanwhile, the crypto may likely reverse and increase despite its negative moves, if buyers should exert more force into their buying activities. Likewise, traders who buy at this trend will also make a profit in the future.
Hence, the Quant market is on the verge of reversal as the price now approaches the oversold region of the daily stochastic.
This means that the selling pressure may likely be exhausted soon, so the currency pair is set to face the buying pressure and be stronger in the coming days. If this is achieved, the coin price might possibly go up towards the $400.000 upper resistance value in its long-term outlook.
QNTUSD Medium-term Trend: Bearish (4H chart)
The QNTUSD pair is in a downward move in its medium-term outlook. This is because the short traders are more actively involved in the order flow.
The coin price at the $106.551 support value which is below the two EMAs as the 4-hourly chart opens today is a result of low bullish momentum.
Hence, the price may likely reverse and face buying pressure if the bulls could prove harder and increase the buying activities, the coin price may swing up to retest its previous high at the $132.989 level.
Meanwhile, the price of Quant is set to face buying pressure as the market now trades at the oversold region. This means that the bears will soon end their downward trip. This will actually compel the bullish pressure to resume and the $400.000 key level in the upper resistance area might be reached in its lower time outlook.
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