Despite the bear market, QUANT has been making positive noise with QNT seeing gains over the past week.
Most cryptocurrency exchanges have made some decent profits recently, despite the beatdown form the broader crypto market.
The charts have remained green despite the fact that the stock markets are suffering from bigger macroeconomic issues.
QNT gained 35.77%, making it among the most successful tokens over the last seven days. An improvement in the coin’s fortunes may be in the offing.
Quant could increase market trust as cryptocurrency recovers.
Quant Recovers, up to 50%
The U.S. Federal Reserve announced inflation data on September 13. This jolted the global financial markets. Due to strong links between the S&P 500 index and Bitcoin, the stock market brought down the cryptocurrency market with it.
The QNT price struggled to move above $112.12 at that time. The crypto market fell as a whole, with QNT being no exception. It experienced a rapid decline from September 13 to beyond.
The market uncertainties and skepticism also made it hard for bulls not to raise the Ethereum/Bitcoin price higher.
As of this writing, the token’s value has increased by about 50 percent since September 13. This latest event saw a modest increase in the value of most coins. What do these signs show?
Expect Market Shifts
The Stoch RSI currently stands in the hundreds. This indicates that the asset is grossly overbought and will have a price correction within the next few days . The CCI numbers are currently declining.
Due to Quant’s current price level, traders and investors may sell their QNT coins to profit from the recent market action. Supporting this price change is the $126.83 range.
We can expect a drop to $122.18 if Quant makes a corrective move.
The price ranges between 50 Fib and 38.20 Fib at the time this article was written. The current pricing remains fairly constant.
QNT’s function in the crypto realm is a significant factor in their robustness. Quant’s primary service consists of applications that allow different blockchains to communicate, enabling the transfer of coins.
We may see better Quant news in the coming days.
QNT market capital at $1.62 Billion according to the daily chart. Source: TradingView.com| Source: TradingView.com Motivation Grid, Chart by TradingView.com