Quant Balloons Over 35% In Last 7 Days Courtesy Of Strong Social Metrics

Christian Encila

2 years ago

3 mins read

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Quant is showing a strong push in the face of struggles in the crypto space as it doubled (and added some more) its 14-day price pump.

Quant outperforms Bitcoin and Ethereum in terms of 14-day and 30-day price increases
QNT is down by almost 10% over the last 24-hours but is still up by almost 29% over the last week
Quant could rally all the way up to $300

While a price increase of 28.9% over the last two weeks already sounds impressive considering the extended winter season that caught up with the cryptocurrency market, Quant was able to top that with its gains for the past 30 days.

At press time, tracking from Coingecko shows the spot price for QNT is $183.39. While it went down by almost 10% over the past 24-hours, it is still up by 76% on its month-to-date performance.

The 30th largest cryptocurrency in terms of market capitalization ($2.668 billion) is among the highest gainers right now, outperforming pack leaders Bitcoin and Ethereum in this department.

Quant Fails To Sustain Price Above $200

The altcoin made an impressive recovery from its February showing when its resistance marker was at $140. In crypto space, resistance refers to the point when an asset’s price stops increasing.

Source: TradingView

Bulls were able to dominate the bears and the increased trading volume for Quant was reflected on the asset’s On-Balance Volume (OBV).

Much like its price, QNT’s Relative Strength Index (RSI) also experienced a massive surge that led to a score of 71 which indicated the crypto was overbought.

Yesterday, the altcoin reached $225 but was not able to maintain that range as there was intense selling pressure. The almost 10% decline was actually expected for Quant as some of its indicators pointed towards an immediate price correction.

The good news for holders is that the bear block that was observed back in February is now acting a bullish breaker, opening a window for a sizable price rally that ranges from $250 to $320.

Quant Social Dominance Fuels Surge

In its recent post about Quant’s social dominance, LunarCrush made mention of the incredible surge that the crypto also got in this department.

On October 9, hourly mention about QNT reached 1.17K, which was the crypto’s highest over the last 90 days. Shortly after, Quant went on a rampaging price surge, increasing by as much as 96.30% to trade at $158.3.

This proved that a sizeable increase in social dominance numbers works in favour of the cryptocurrency and if its predicted price increase is realized, there is a high possibility that the digital asset will be at the forefront of talks within the crypto space.

If that happens, an extended bull rally might come. Investors, however, are still cautioned as Quant’s network activity is minimal at this point indicating development and improvements might not come anytime soon.

QNT total market cap at $2.5 billion on the daily chart | Featured image from Invezz, Chart: TradingView.com

Disclaimer: The analysis represents the author's personal views and should not be construed as investment advice.

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.