Quant Price Forecast: November 2
QNTUSD price may likely resume its uptrend soon if the buyers can exert more push or force into the market and break up the $192.689 resistance level, the coin price may turn upsides and retest above the previous swing high at the $235.000 level.
Key Levels:
Resistance Levels: $200.200, $200.300, $200.400
Support Levels: $164.500, $164.400, $164.300
QNTUSD Long-term Trend: Bullish (Daily chart)
Despite the interference of short-term traders in the price flow, the long-term market shows a bullish race.
The current market price of QNTUSD is at the $164.561 support level below the EMA-9 but above the EMA-50 as the daily chart opens today. This implies that the price action is in an uptrend and the bulls still remain dominant in the market.
A further downward is unlikely as the momentum indicator is pointing up below 20% in the oversold region of the daily stochastic, this means that the price Quant may likely turn upsides, and the $235.000 supply trend line and beyond may be the target as the market turns bullish soon in its long term perspective.
QNTUSD Medium-term Trend: Bearish (4H chart)
QNTUSD Will Favor the Buyers Soon
QNTUSD is in a bearish move at the moment due to the interference of the sellers in the market. Further, the price is trading below the two EMAs; which means that it’s in a bearish market zone at the moment.
At the moment, the coin price is trading below the two EMAs at the $164.561 high level below the moving averages on the 4-hourly chart. This suggests that the bulls are coming into the market in a grand style and soon they may likely dominate the market and gain more strength as the trend resumes its upward move sooner.
A further downward is unlikely as the momentum indicator is pointing up at around level 58%, this means that the price may likely remain and continue in an uptrend and the bullish correction phase could drive the price of Quant higher to reach the $235.000 psychological level at the upside which will be a big turnaround for the buyers in the coming days in its lower time frame.
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