Quant (QNT) Gains Over 34% In A Turbulent Week For Others

In spite of other coins experiencing turbulent times, Quant (QNT), is the first blockchain OS to enjoy continued gains over the past week. Over 34% has been gained by the top-30 coins in the last five days. As of writing, Quant’s price is trading at $198, although it broke its $206 resistance during the day.

It is currently experiencing a resurgence, beating Bitcoin (BTC), and Ethereum (ETH), over the same time period. However, it’s still trading at about 50% below its all-time high of $427.42.

Related Reading: Crypto Won’t See Bull-Run Anytime Soon, This Expert Explains Why

What’s the Secret to Quant Gaining so Much?

Santiment, an analytics company that uses blockchain technology, attributes QNT’s increase to “Volume, daily active addresses, and whale accumulation.” The company also said that whales had amassed 15% of the currency in just 5 months. Intotheblock Don’t forget to enter the dataIt was found that approximately sixty percent of coins holders purchased their coins within the last twelve months.

However, it appears that the network’s recent changes are what piqued the interest of a new generation of holders. In June, the network launched the Tokenise system that allows the creation of QRC20 tokens compatible to ERC20 tokens. QRC721 was also supported by the network, which allows users to create and deploy non-fungible, safe tokens.

Lunar Crush’s Don’t forget to enter the dataAlso, social media has a positive attitude toward currency.Source: Chart of QNTUSD prices from TradingView.com Quant’s social mentions and interactions increased by 43.24% and 64.57% in the last week, respectively.

QNT’s price is currently trading above $198. | Source: QNTUSD price chart from TradingView.com

Quantity: What the Charts Show

The daily chart shows a rounding top pattern that indicates a rise in the price of quant coins. The bullish trend is most common when the market drops. The U shape of the U indicates investor confidence after a drop.

On June 18th, prices fell from $42.7 to $42.7. This is when the current upswing started. The Quant coin’s price soared by 430% within four months. Quant is on a 5-day winning streak, however, while other leading cryptocurrency battle for uncertainty. The increasing number of trades also shows buyers and sellers becoming more enthusiastic.

The altcoin surged by 12% today to break through the resistance of $206. Buyers now have solid support, and this could allow the rally to continue for an additional 10.84% to $240. However, Quant’s price saw extreme buying in a short period, which is unsustainable for longer bull runs. Accordingly, there will be a price correction soon.

TradeView Expert: Quant Overpriced

It is possible to still use the aforementioned services. Tradingview expertQuant was noted to have entered the region of overbought. The asset’s Relative Strength Index (RSI) was greater than 75. A score of greater than 70 on the RSI is a sign that an asset has been overbought. An asset that scores less than 30 on the RSI is considered to be overbought.

An excessive amount of buying is indicated by the daily RSI, which indicates overbought condition. To stabilize prices, a correction phase will be necessary. After a correction, the rising EMAs (50, 100, 200, and 100) could provide enough support for the uptrend to continue.

Featured image taken from Pixabay. Chart from TradingView.com

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