Quant, Matic And Luna Sustain Demand Zones!

QUANT ANALYSIS: OCTOBER, 2021

Market Structure:

Quant is the world’s first interoperable blockchain provider, designed to function various contracts simultaneously and instantaneously. Here’s the market structure of Quant.

Quant is trading at $293. The market structure of Quant is bearish as it failed to break and close above the previous lower-high structure point. The structure was formed at $336. Quant managed to break that level for a brief while but failed to close above it on the daily chart. Instead, it made a bullish candle with a long upper shadow. Then, it continued its downward trajectory and will probably make a new lower-low below $265.5.

On the hourly chart, Quant has made a series of lower-highs and lower-lows. In addition to this, the coin has given a breakdown below the demand zone that ranged from $296.7 to $298.8. It is likely that the coin will retest the zone before continuing its downward trajectory. In this case, the coin will plunge below $265.5.

Quant analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price weakness for the coin in the short-term. The hourly RSI has crossed below the neutral region. It stands at 37.99 and has the potential to break below the oversold region.

The MACD is below the signal line as the coin broke below the crucial demand zone.

Quant analysis
Source: tradingview

Conclusion:

On the breakout and close above $298, $307.1 and $315 are the targets on the upside.

On the breakdown and close below $288.5, $281.5 and $275 are the targets on the downside.

MATIC ANALYSIS: OCTOBER, 2021

Market Structure:

Matic is an Ethereum-based ERC-20 token that operates on the Polygon blockchain network. Here’s the market structure of Matic.

Matic is trading at $1.248. The market structure of Matic is mildly bullish as the coin is barely above the previous structure point. The previous lower-high structure was formed at $1.234. The coin needs to sustain above the said level in order to continue its bullish momentum. Matic is consolidating between a tight range, $1.349 serving as the resistance while $1.234 serving as a support. Matic needs to break either side in order to determine the future trend.

On the hourly chart, the coin gave a fake out below the demand zone. It was a fakeout because the coin witnessed a huge buying interest and Matic broke back in the area of consolidation. Thus, $1.212 will serve as a good support for the coin in the upcoming days. However, short-term weakness can be seen below this level.

Quant analysis Matic
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price weakness for the coin in the short-term. The hourly RSI broke back in from the oversold region. It stands at 41.97 and has the potential to cross above the neutral region.

The MACD is below the signal line because the coin broke below the demand zone for a brief while.

Quant analysis Matic
Source: tradingview

Conclusion:

On the breakout and close above $1.267, $1.300 and $1.322 are the targets on the upside.

On the breakdown and close below $1.212, $1.188 and $1.164 are the targets on the downside.

LUNA ANALYSIS: OCTOBER, 2021

Market Structure:

Luna is a blockchain protocol which uses fiat-pegged stablecoins to power global payments systems. Here’s the market structure of Luna.

Luna is trading at $43.30. The market structure of Luna is extremely bullish as the coin is making higher-highs and higher-lows. Luna has surged in value along a dynamic rising trendline. However, the trendline is too steep for the bull run to sustain at the current rate. Either a breakdown can be seen or a consolidation will prevail moving forward. However, $50 will serve as a tight resistance if the bullish momentum continues.

On the hourly chart, Luna has made a series of lower-highs and lower-lows as the coin retraced on the daily chart. Signs of recovery can be seen as the coin seems to have bottomed out. Luna must sustain above the level of $44 to see a possible reversal. The probability of a reversal is strong considering the presence of a crucial demand zone.

Luna analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price weakness for the coin in the short-term. The hourly RSI broke back in from the oversold region. It stands at 48.12 and has the potential to cross above the neutral region.

The MACD is on the verge of crossing above the signal line, indicating that the coin may see a reversal from the demand zone.

Luna analysis
Source: tradingview

Conclusion:

On the breakout and close above $44, $45.33 and $46.33 are the targets on the upside.

On the breakdown and close below $41.56, $40 and $38.49 are the targets on the downside.