Quant Price Prediction for January – $176 Incoming?

Quantity(QNT) worth It is hovering above the long-term support at $105 and could start a relief rally.

At the end of June, QNT price broke above a long-term descending resistance line, which was formed since the all-time high of $429.69. Unexpectedly, the breakout led to a sharp rise in the quant and a maximum price of $228 in October (red icon).

However, the price failed to close above the $200 horizontal resistance area, even though it initially advanced above it.

QNT price is back near the $90 support area. Therefore, it is trading within a long-term range between $90 and $200 without a clear direction in its price movement.

Also weekly RSI 50 line, indicating a neutral trend.

Therefore, the weekly time frame is insufficient to provide conclusive direction for QNT price analysis.

Quantity (QNT) Price Analysis
QNT/USDT Weekly Chart. source: trading view

Quant Price Prediction for January: Relief Rally Coming?

A closer look at the technical analysis on the daily time frame shows that QNT price also broke above a short-term descending resistance line. However, it failed to sustain its upward momentum. Additionally, there is a minor support at $105, above which QNT price is currently trading. While it is possible that the quant price action has formed a double bottom, the pattern is yet to be confirmed.

Similarly for the weekly time frame, the daily RSI is indecisive as it is below 50 but trending upwards.

If there is an upside move, the main resistance area will be at the $161 – $176 average price, formed by the 0.5-0.618 Fibonacci retracement resistance levels.

Quant (QNT) Price Prediction for January
QNT/USDT Daily Chart. source: trading view

The wave count supports the possibility of an upward move. This shows that the Quant price completed a five-wave downward movement before breaking out of the resistance line. If so, it is now completing an ABC formation which will take it towards the 0.5-0.618 Fibonacci retracement resistance level. The fact that QNT price is trading inside a descending parallel channel supports this possibility.

If the calculations are correct, this would provide a bullish quant price forecast for January, indicating that an upward move towards $161 – $176 is expected. A close below the $105 minor support area would invalidate this bearish price forecast, suggesting a further decline to $90 instead.

QNT short-term movement
QNT/USDT six hour chart. source: trading view

To conclude, there are no conclusive bullish or bearish signals for QNT price. However, the wave count is trending bullish, supporting the possibility that there will be a relief rally towards $161 – $176. A drop below $105 would invalidate this bullish Quant price analysis and instead suggest a drop to $90.

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