Quant (QNT) increases by more than 15% in a single day!
During this market’s bear phase, most cryptocurrencies have seen outflows, and retail investors are wary of investing in cryptocurrencies for the long term. However, Quant, an Ethereum-based cryptocurrency, is still bullish despite the bear market.
Quant’s interoperability functions contribute to the smooth and seamless exchange of global information. The over-ledger facility allows digital access to this network’s applications and services, which raises the price of the native token QNT. Enterprises and developers must pay QNT access fees to use these features.
The cryptocurrency is currently ranked 28th in terms of market cap, especially after a 15% gain. Most top-tier cryptocurrencies were in the news during the Ethereum Merge upgrade, but Quant overshadowed them with its short-term appreciation. The bullish trend began in June. Following that, it formed higher highs in order to capitalize on the momentum.
According to market experts, the positive trend is due to the announcement of tokenization products. Developers will be able to create interoperable tokens on Ethereum, Polygon, and XDC. For this tokenization mission, Quant has announced QRC-721, a non-fungible token standard. If Quant takes on the Central Bank Digital Currencies mission, it could be a game changer. Is now the best time to buy QNT? Discover more in our Quant forecast!
At the time of writing, QNT was trading around $206.94, close to the resistance level. After finding support around $95, Quant has been on an uptrend, and we believe it will break through resistance and reach a short-term target of $280.
It has broken through the upper Bollinger Bands range, the RSI is above 80, and the MACD is also bullish, indicating strong bullishness in the short term. It is true that investing in QNT at such a high level can be risky because if the momentum changes, it will require another support of around $150. If you want to take a chance, you can invest for the short term with a specific goal in mind.
Because most technical indicators are now positive, the Quant coin is bullish even in the long term. $225 is strong long-term resistance, so you should wait until it decisively crosses the label. QNT may fall to $150, which could be a good time to buy for the long term. It has formed a higher low near $95 (previous low near $48), indicating strong bullish momentum in the long term.