Quant Price Forecast: February 15
QNTUSD‘s price might possibly retrace at the $129.117 support value as the selling pressure may possibly end soon. If the investors could prove stronger up the more and the price shows sustainability above the $235.000 resistance value, its, upsides move could extend further to reach a $400.000 high level resulting in an intraday gain for the buy investors.
Key Levels:
Resistance Levels: $200.200, $200.300, $200.400
Support Levels: $129.000, $128.000, $127.000
QNTUSD Long-term Trend: Bearish (Daily Chart)
The QNTUSD trend on the daily chart is obviously bearish and the price has been printing lower lows and lower high for a while now.
The price drop to the $132.850 low value during yesterday’s session has made the coin price trade below the resistance trend levels in its recent low. This will soon be invalidated as the market has reached the oversold region already.
The Quant price found support at the $129.117 value below the moving averages as the daily session opens today. This indicates a downward momentum; meanwhile price rejection is imminent at the mentioned support. Further, investors may seize the opportunity now and buy the coin at a lower price and look for more gains ahead.
Thus, price reversal is likely at the $129.117 support level as the selling pressure will soon be exhausted as indicated by the price signal which is pointing downward below the level of 10% in the oversold region. If the bulls could achieve this, the upcoming bullish pattern may hit the $350.000 supply value in the days ahead in its long-term outlook.
QNTUSD Medium-term Trend: Bearish (4H Chart)
Quant remains in a bullish trend in its medium-term outlook. Further, the coin prices are traded below the moving average lines, this confirms a bearish trend.
Today, pressure from the bears dropped the coin price down to the $129.117 support level below the two EMAs, an indication of a downtrend. Hence, there is a possibility for the coin price to pull back at the current support to invalidate the bearish theory.
With this current trend, buyers can pick up the price at a lower rate and move the market further up. Therefore, if the bulls increase their tension in the market, the price tendency will move above the key levels in the resistance area.
In a like manner, QNTUSD is likely going to face rejection at the mentioned support and face the upsides as the market is trading below the 20% range of the daily stochastic; it means that the selling pressure will end soon. This will compel the buy traders to resume an uptrend and may likely break up the $235.000 supply level soon in its medium-term time frame.
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