Quant Price Analysis: Can Bulls Sustains Above 50 EMA ?

• The Golden Crossover has taken place on the daily chart.
• The token has shown a great bull rally from its support levels.

Quant was currently trading close to its 50 EMA (the blue line) and 200 EMA (the green line). The token has gone into a consolidation zone after encountering its resistance level.

Quant on the daily chart

On the daily chart, a double-bottom pattern can be seen. The price of the token after a double bottom pattern is expected to go up to $213.54. The horizontal line that is marked on the daily chart shows that those levels are one of the strong resistance for the token and the price has reversed several times from there. So if the price of the Quant crosses those levels along with a double bottom pattern breakout we may see a strong bull run.

MACD – The MACD indicator has not yet produced a bullish crossover and the red bars on the MACD also show that currently, the number of bears is more than the number of bulls. This may change as soon as the price crosses the horizontal line which is one of its resistance. Overall, at present time, the indicator does not give a buy signal to investors.

Relative Strength Index (RSI) – The RSI curve was trading at 55.08 which is more than its 50-point mark. Though the RSI curve is falling at present time, once the price rises and gives a breakout of the horizontal line, we may see the RSI curve rising again. 

Analyst views and expectations

The token is expected to give a bull rally after a double-bottom pattern breakout therefore investors should keep an eye on the daily chart of the token. Moreover, a Golden Crossover has taken place on the daily chart which is one more positive confirmation for the investors.

According to Quant price forecast by CoinsKid, the coin might end 2023 at $134.93 before dropping to $116.54 a year later. The website then made a price forecast for 2025, predicting that the price would open the year at $115.37 and end at $206.94.

Quant token price prediction by PricePrediction was more optimistic, predicting that the Quant might reach $349.48 in 2025. The website then made a price forecast for 2030, which showed it trading at $2329.97.

By February 8 this year, the value of Quant is expected to increase by 6.45% and reach 153.68, according to CoinCodex’s most recent price prediction. Its technical indicators indicate that the present sentiment is neutral.

Long Forecast claims that Quant price has both a bright future for value and high risk and volatility. It might see minor effects and retrace toward support levels, but bulls will return and around 2024, its price might soar to an all-time high of $430.88, compelling investors to purchase Quant.

Technical Levels

Major resistance -$189.96

Major support -$103.84

Conclusion

The token looks like an appealing investment option for both short-term and long-term investors after a double-bottom pattern and a horizontal line breakout.

Disclaimer: The opinions represented in this work along with any other opinions are presented primarily for informative purposes and are not intended to be taken as investment advice.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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