Quant (QNT), although it may not be as widely known as Bitcoin and Ethereum or XRP and Dogecoin respectively, is one digital asset that has the potential to experience a bullish rally within the next few days.
- Quant’s notches 14.44% seven-day advance
- Bullish momentum is driving a 20% increase in crypto’s value.
- QNT outperforms many altcoins following the September bearish stock market
As of press time tracking is from CoincodexThe crypto trades at $153.63 with a 4.4% rise in the last week.
Although the digital currency reached its peak on September 11th, 2021 at $424.43 it has since fallen to the volatility expected in the space. It was at that point at $40.97.
The asset recovered and rose to $163.41, its highest price since the all-time high. It is now a bullish sentiment.
Quant Price Pattern Analysis
Under what is known as the head and shoulder pattern, Quant’s price is looking at an immediate bullish run, potentially once again outperforming other more popular and bigger cryptocurrencies.
This asset has seen a remarkable jump in value from $86, which it had in September, and is now trading at over $150.
The crypto is experiencing a struggle as it reaches the $160 mark. Inflation is under control by the bears, which contributes to this situation.
If Quant is successful in breaking the $155 resistance marker, sideline traders will have the opportunity to enter, pushing the asset’s price by 20% all the way to $188.
The new resistance for said trading price, which is currently at $141, could be the $160. Quant is currently supported by support levels between $141 to $130.
Quant as A Cryptocurrency: A deeper understanding
The current market capitalization of quantitative markets is $1.84 trillion. It ranks 32nd overall, 10ThIn the Ethereum (ERC20 tokens) sector, and 19ThIn layer 1 assets
The price of the cryptocurrency was set at $1.51 in its Initial Coin Listing (ICO) which concluded on April 30, 2018. It has had an amazing showing and its price against the U.S.dollar has increased by 101.79%.
Quant raised its ICO prices 48.69x versus Ethereum and Bitcoin leaders Ethereum.
As it saw a staggering 1,480.25% increase in its price, going from $11.33 – $179, 2021 was undoubtedly the best year for Quant. Quant was unable to achieve a $3.66 value in 2019, while Quant had a terrible year.
QNT has experienced an average annual growth rate of 511.39% over the past five years.
Featured image from Finance Magnates, Chart: TradingView.com| Featured image from Finance Magnates, Chart: TradingView.com