Quant Price Forecast: March 30
The QNTUSD price will definitely rise from the support level soon as the market is already oversold. It’s possible that the pair will display another bullish price reversal soon. The coin price might possibly break out and resume its uptrend soon if buyers should trigger their buying pressure and break up the $235.00 resistance level, the bullish correction pattern may prolong the price to the $400.00 high trend line. Thus, a clear buy signal.
Key Levels:
Resistance Levels: $200.200, $200.300, $200.400
Support Levels: $106.000, $105.000, $104.000
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. Meanwhile, this trend will soon be invalidated as the price projector signal that the market is already oversold.
The sustained bearish pressure to the $117.09 low value during the last session has dropped the coin value below the supply levels in its recent low.
Pressure from the short traders further dumped the price of Quant to the $117.09 support level below the two EMAs as the daily chart opens today. However, this trend will soon be hibernated as the market now trades in the oversold region. This is an opportunity for long traders to buy at a lower price. Thus, traders who buy at this trend will also make future gains.
Furthermore, there is likely to be a price rejection at the mentioned support level as the market price of QNTUSD now points down below the 3% range of the daily stochastic at the oversold region. This connotes that the selling pressure will soon be exhausted while the bulls may likely take over to resume the bullish trend. If this is achieved by the bulls the coin price may possibly rise to hit the $400.00 resistance trend levels in the coming days in its higher time frame.
QNTUSD Medium-term Trend: Bearish (4H chart)
The QNTUSD pair is in a bearish market zone in the medium-term time frame. The price bar can be seen below the moving average lines. This is due to the high bearish impact in the market.
The increase in the momentum by the bears to the $117.09 support value during yesterday’s session has dropped the Quant price below the trend levels in its recent low.
A further drop in the coin price to the $117.12 low value below the moving averages as the 4-hourly chart resumes today is a result of low bullish momentum. Traders who join the market during the bearish trend will also make a profit in the future.
Hence, there is a possibility of price reversal at the $117.09 level as the market price of Quant is in an oversold region of the daily signal. This will bring the emergence of the bulls to resume the bullish trend soon and in this case, the bullish trend pattern might drive the price of the coin to the $400.00 resistance value in the nearby days in its medium-term outlook.
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