Quant Price Forecast: May 15
QNTUSD pair will break out from the support level soon as the coin has been in a downtrend for a while and is on the verge of reversal. An increase in the bulls’ pressure may break up the previous supply at $168.38 and this may swing up the coin price to a $400.00 upper resistance level and beyond.
Key Levels:
Resistance Levels: $180.20, $190.30, $200.40
Support Levels: $107.00, $106.00, $105.00
QNTUSD Long-term Trend: Bearish (Daily Chart)
The Quant price is in a bearish trend in its long-term view. The price bars can be seen below the moving averages. This is due to the high inflow from the sell traders. However, there is about to be a turnaround for the QNTUSD long traders as the market is now oversold.
The sustained bearish pressure in the past few days has made the crypto price remain below the supply trend levels at its recent low.
The price responded to the shift in the market structure and is currently below the moving averages at the $102.64 support level. Meanwhile, the current price at a $102.64 low value below the supply trend lines has not stale the crypto market condition. Thus, traders who buy the coin during the bearish market will also make gains in the future.
Further, the QNTUSD pair is now pointing down below the level of 6 % in the oversold region of the daily stochastic. It indicates that the selling pressure will soon be exhausted. Thus, the upcoming bullish correction rally may likely push us high to the $400.00 high mark and beyond in the days ahead in its long-term outlook.
QNT (USD) Medium-term Trend: Bearish (4H Chart)
QNTUSD Will Breakout from the Support, Buy is near!
The market price of QNTUSD is currently trading in the bearish market zone. This is due to the high inflows from the sell traders.
The short traders made a downward move to the $103.47 support level on the 10th of May which has made the coin price remain below the supply trend levels in its recent high.
Also, the current price correction at the $102.65 supply value indicates that the bulls are trying to resume the uptrend move to dominate the market.
This bullish correction, however, indicates a gradual improvement in market sentiment and leads to more intraday gains in assets to higher prices.
Additionally, the price of Quant might possibly swing up above its previous high at the $138.99 value soon as the coin market price now trades in the oversold region, this will compel the bulls to resume the upward movement and in this case, the price might push higher to the $400.000 supply mark and beyond in the days ahead in its medium-term time frame.
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