Quant Price Forecast: August 2
The bulls remain dominant at the $110.05 price level at the moment in the Quant market. The crypto is currently trading in a bullish market. However, the coin may likely increase further if the bulls could push the coin price higher and the market price sustains above the $146.37 supply mark, the potential rally could surge above the $163.14 previous higher level to hit $400.00 upper resistance value and above.
Key Levels:
Resistance Levels: $140.00, $150.00, $160.00
Support Levels: $99.00, $98.00, $97.00
QNTUSD Long-term Trend: Bullish (Daily chart)
Despite the moves by the short traders, the QNTUSD pair is in a bullish market zone in its higher time frame. The price bar can be seen above the two EMAs. This confirms its bullish trend.
The bulls’ pressure at the $111.90 supply value on the 29th of July has sustained the coin price above the supply level in its recent high.
The drop in the price of Quant to the $107.84 low value above the supply levels as the daily chart commenced today has no serious effect on the market as the bulls still remain dominant, while the crypto maintains its upward strength.
Thus, if the bulls could push harder and exchange hands with the short-term traders at the mentioned support, the coin price could reverse to retest the previous high of $163.14 high point.
Further, such a breakthrough would provide an opportunity for buyers to regain control and potentially drive the price of Quant toward the $400.00 upper high mark in the days ahead in the higher time frame.
QNTUSD Medium-term Trend: Bullish (4H chart)
QNTUSD – Bulls Are Dominating
The coin is also displaying a bullish posture in its medium-term outlook. This is due to the high inflow from the long traders.
The increase in the momentum by the bulls at the $109.94 supply value during yesterday’s session has enabled the Quant price to stay strong above the resistance lines in recent times.
The bulls made a smooth ride up from $109.63 to a $110.05 resistance level above the EMA-50 as the 4-hourly chart opened today; this shows that the buy traders are actually on top of the market at the moment. A breakout above this barrier, with a 4-hour candle closing could signify a shift in the market dynamics.
Furthermore, if QNTUSD buyers could increase their buying motives, hold above the $114.17 previous high mark, and close a candle, closing above the mentioned resistance will signal a potential BUY. As a result, the price could pump or surge upsides to hit the $400.00 resistance value soon in its medium-term outlook.
Place winning Quant trades with us. Get QNT here
Leave a Reply