Quant (QNTUSD) Resumes Upside Correction

Quant Price Forecast: August 10

Today, the QNTUSD pair resumed upside correction after completing the downward movements. The decreasing trading volume in this correction phase signals a temporary retracement, as the involvement of fewer traders on the bearish side also indicates strong conviction in buyers. Meanwhile, the price could go higher, if the bulls can break up the $150.00 value. Then, we can expect a good upside correction to the $160.00 upper resistance level, obtaining a higher footing to rise further.

Key Levels:
Resistance Levels: $72.00, $73.00, $74.00
Support Levels: $59.00, $58.00, $57.00

QNTUSD Long-term Trend: Bearish (Daily chart)

The Quant pair resumes upside correction as it made a high $62.36 value today on its higher time frame. The coin price is below the supply levels, implying a bearish trend due to the high inflow from the sell traders. However, there is about to be a turnaround for the QNTUSD buy traders as the pair resumes an upside correction.

The sustained bearish pressure at 58.91 support value in the previous session has made the crypto price remain below the supply trend levels in its recent low.

At the time of writing, the QNTUSD buyers resumed upside correction at the $62.36 resistance value as a pullback below the EMA-50 shortly after the daily chart commences today, indicating a strong conviction in buyers to move the coin price further.

Therefore, if the current support holds and the bulls step up their market activity, a bullish correction may be triggered. The price might increase to break up the previous high value of $150.00, maintaining a further growth potential for the buy traders.

The stochastic oscillator proves that the upside correction might continue as it remains upward. Therefore, the emergence of more buyers is crucial at present. In light of this, the upside correction might extend further to reach the $160.00 upper resistance level in the days ahead as it resumes upside correction in its long-term outlook.

QNTUSD Medium-term Trend: Bearish (4H chart)

Quant (QNTUSD) Resumes Upside Correction
The QNTUSD pair shows signs of an upward retracement as it resumes upside correction following the completion of the low dips, on the medium-term outlook. The coin is currently correcting below theEMA-50, indicating a bearish trend.

The sell traders’ action to the $58.91 support level before the end of the last session also contributed to its bearishness in its recent high.

Today, the Quant market hit the resistance at $62.36 as it resumes upside correction below the EMA-50, as the 4-hour session resumes.

Hence with sustained buying, the upside correction could rise to retest the $80.47 previous supply level and set the potential for further growth.

Notably, the market price of QNTUSD is pointing up on the daily stochastic, suggesting that the upside correction will likely remain and continue in an upward move. Thus, the next jump by the bulls might reach a $160.00 upper resistance level soon, as the coin resumes upside correction in its medium-term time frame.

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