On Saturday, the price of Quant (QNT) extricated from the seven-month-old falling wedge formation. Buyers will confirm the authenticity of the breakout by continuing to retest Monday.
QNT, the native cryptocurrency of Quant Network is a platform for interoperability between 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. If the price remains above $77.5, then the altcoin may extend the recovery.
The Quant (QNT), which has seen a significant increase in the past week, suggests that there may be a bottom. As buyers drove the price to $67, it accelerated.
The bullish confluence of moving averages and relative strength has reached the positive zone, which indicates a possible trend reversal.
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Quant Barrels Past $75 Barrier
QNT surpassed the $67 threshold after nearly two months of price increases. As QNT bulls forced their way forward, the coin’s price increased, passing the $75 barrier.
If the bullish momentum holds this week then the next key price levels to be monitored will be $89 & $100. The uptrend faces a significant obstacle at $90.
In the meantime, volume has increased in the past several sessions. This is causing volatility to increase. Investors are advised not to place transactions until price settles.
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.
Source: TradingView.com| Source: TradingView.com
The QNT Seeks Short-Term Gain
Buyers could drive the QNT price up to $90 if it recovers from its 20-year exponential moving average. This psychological barrier can be broken and the price could rise above it. It may signal a short-term rebound.
A falling trend continues in the QNT/USDT pairing. The price of the coin has fallen for nearly seven months in this manner, negating any significant bullish revival.
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The bullish cycle within the pattern also began June 17th, when QNT prices rallied above the trendline 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.
Quant token’s current price activity has led to a QNT market capitalization of $1.8billion. QNT saw a change in value of -57.80% this year.
Featured Image from Coinpedia. Chart from TradingView.com
