Quant (QNT) Registers Gains In Past Days – A Short-Term Upswing In Place?

Christian Encila

3 years ago

2 mins read

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On Saturday, the price of Quant (QNT) extricated from the seven-month-old falling wedge formation. With the continuing retest phase on Monday, buyers will verify the legitimacy of the breakout.

QNT is the native cryptocurrency of the Quant Network, a blockchain platform that facilitates the interoperability of blockchains.

Monday’s trade price for QNT is $75.71, a decrease of 10.2 percent over the last seven days, according to statistics from Coingecko. Therefore, if the price holds over $77.5, the altcoin could extend the current recovery.

Quant (QNT) has increased significantly over the previous week, signaling that a bottom may just be around the corner. The pace increased as purchasers drove the price above $67.

Moving averages have accomplished a bullish confluence, and the relative strength index is in the positive region, indicating a potential trend reversal.

Quant Barrels Past $75 Barrier

After nearly two months, a huge price increase pushed QNT past the $67 threshold. As QNT bulls forced their way forward, the coin’s price increased, passing the $75 barrier.

If bullish momentum sustains this week, the next important price levels to monitor will be $89 and $100. Near $90, the uptrend is encountering a formidable obstacle.

Meanwhile, volumes have grown over the last several sessions, resulting in an increase in volatility; therefore, investors should wait until the price resolves before placing transactions.

The sellers are seeking to halt the uptrend at $90, but the upward-sloping moving averages and strong relative strength index signals that the bulls have the edge.

QNT total market cap at $911 million on the daily chart | Source: TradingView.com

QNT Sees Short-Term Upswing

If the price of QNT recovers from the 20 exponential moving average, buyers could push the price back up to $90. A break and closing above this psychological barrier could indicate the restart of the short-term upswing.

In a falling pattern, the QNT/USDT pair displays its continued downward trend. For nearly seven months, the price of the coin fell within this pattern, denying a substantial bullish resurgence.

In addition, the bull cycle inside the pattern began on June 17, when the QNT price rallied from the trendline of support at its lowest point. As a result, the bullish surge boosted the market value to past $75.

Quant reached a record high of $427 on September 11, 2021 – a far cry from its current price of $75.71. The token’s price reached an all-time low of $0.215 on August 23, 2018.

Recent price activity for Quant has resulted in a market capitalization for the token that exceeds $1.8 billion. This year, QNT has experienced a change of -57.80 percent.

Featured image from Coinpedia, chart from TradingView.com

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.

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