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In the Quant market, Bears have maintained the $125 resistance price level since November 10. The bulls have made several efforts since then to break the resistance level, but the bullish price was continuously rejected. The bull market has since then put pressure on the static resistance price level by continuously moving the support level closer to it. The final support level that formed the basis for today’s bullish move was formed at the $112 price level.
Quant Classic Market Price Statistic:
- QNT/USD price now: $129
- QNT/USD market cap: 1,556,080,549
- QNT/USD circulating supply:12,072,738.00
- QNT/USD total supply: 14,612,493
- QNT/USD coin market ranking: #30
Key Levels
- Resistance: $130, $135, $140
- Support: $120, $115, $110
Quant Market Price Analysis: The Indicators’ Point of View
Formally, the bands of the Bollinger indicator compressed as an indication of the fact that the bulls are catching up with the bears. And with the bullish price smashing through the major resistance level in today’s market, the upper band of the Bollinger responds by a movement in the upward direction. There is a high probability that the bulls will sustain the trend, this is because today’s price movement is a bullish breakout from the ranging market.
QNT/USD 4-Hour Chart Outlook
From this perspective, we can see the price of QNTUSD pulling back from the overbought zone. It is normal for the price to pull back at this point. It is just a price correction after which the bullish trend will continue. However, a major concern here is that the volume of trade is not as much as to encourage the market in a bullish way.
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