Quant Price Forecast: February 9
The Quant (QNTUSD) price is on its way to the upper resistance zone as the coin set the base for the next upward move. The crypto may likely increase to the upside if all the support level holds and the bulls should put more aggression to their activities, the coin price may rally up to a $450.000 upper high level.
Key Levels:
Resistance Levels: $230.200, $230.300, $230.400
Support Levels: $118.000, $117.000, $116.000
QNTUSD Long-term Trend: Bullish (Daily chart)
The QNTUSD pair is in a bullish market zone in its higher time frame as can be seen from the chart below. The price is currently recovering and trades above the EMA-50 with its wick touching the EMA-9. This is an indication of an uptrend. The bullish reversal at the $165.000 high value in the previous action has sustained the crypto above the trend line.
As a result of an increase in buying pressure, buyers have been able to push the price of Quant higher to a $152.000 high level above the EMA-50 as the daily session opens today. This will give room for the buy investors to influence the price tendency. Thus, a break above the $235.000 resistance value would intensify the buying pressure on the crypto.
Hence, the current correction phase may likely continue as the momentum indicator now points upwards in the oversold region, we can now expect the coin price to reach a significant level of $450.000 supply trend line in the days ahead as the bulls continue with their bullish correction and remain dominant in its long-term perspective.
QNTUSD Medium-term Trend: Bullish (4H chart)
The high inflows from the buy traders now made the QNTUSD price trades in the bullish trend zone in its medium-term outlook. The bulls have sustained the crypto market at the $147.479 supply value in the previous action; this has made it possible for the coin to stay above the trend line.
The price drop to the $139.016 low value above the EMA-9 as the 4-hourly chart resumes today has not really affected the currency pair as this indicates an uptrend in the context of the strength of the market.
Meanwhile, a possible reversal is imminent at the mentioned support as indicated by the daily stochastic which is pointing upwards. This means that the Quant price might possibly turn upside to resume its uptrend and this may reach the $450.000 supply value in the coming days in its medium-term perspective.
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