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•QNT/USD is currently priced at $123.16 and has increased by 2.64% over the past day
•The trading volumes have decreased by 23.10% over the past day
•The technical indicators suggest a positive outlook for the near term
Short Term View: Will the QNT uptrend last any longer?
The Quant price today is $123.16 USD with a 24-hour trading volume of $30,933,846 USD. Quant is up 2.64% in the last 24 hours. The trading volumes have decreased over the past day whereas the Volume to Market Cap Ratio stands at 0.02081 for the altcoin.
Quant bulls have successfully navigated through the quandary and look to have overpowered the bears in the market. This has resulted in a positive outlook brewing towards the altcoin as the QNT price is currently transacting above the 20,50 SMA on the four hour chart. In the event of the resumption of the uptrend, the bulls will encounter resistance at $130. Breaking this level would provide the bulls with a chance to give a proper crack to scaling the $150 mark, which has often evaded the grasp of the bulls. The support for QNT is placed at $100 in the event of a shift in sentiment.
Long Term View for Quant
Quant is in the nascent stages of its recovery as the green histograms are picking up pace on the daily chart. The MACD and signal lines are also depicting strength as they continue to move towards the positive territory. The asset is likely to continue picking up scraps in the near term before further upside can be observed in QNT. The RSI, on the other hand, is currently placed at 47.76 and is fast heading towards the halfway mark.
Conclusion
As the selling pressure faded in QNT, there began an outpouring of buyers in the market which has led to the altcoin enjoying its moment under the sun. The uptrend is expected to continue over the coming days as the asset continues its march ahead.
Support: $115-$100
Resistance: $130-$150
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
