- The Quant price analysis shows a record increase in price today.
- What are the reasons behind a price spike beyond speculations?
- Strong support is present at $311.
The Quant price analysis shows a skyrocketing behavior by the cryptocurrency as it sets a new record high at $421. QNT/USD saw almost a 27 percent increase in value yesterday and today again got a jumpstart on the bullish side. QNT gained a value of around 26 percent during the last 24 hours and around 102 percent over the course of the last seven days.
The jump in price is beyond speculations, and the question is; if this price level is sustainable for QNT? or not. In the market, when most of the altcoins are going down along with the trendsetters Bitcoin and Ethereum, Quant seems to be not affected by the overall downward trend.
Even on 7th September 2021, when Bitcoin flash crashed spectacularly along with all the altcoins, Quant successfully dodged the trend and attained an improvement of 10 percent on that particular day.
The reason why QNT is acting against the overall crypto market could be other than regular speculations, which cryptocurrencies are usually valued upon. It might be the actual daily life use of the project behind the crypto in question.
Quant is the native token of the Quant network based on Ethereum, designed to make businesses capable of interoperating over different blockchains with higher speeds with the tech they call Overledger 2.0.
QNT/USD 1-day price chart: QNT on the bullish ride
The 1-day Quant price analysis reveals a strong bullish momentum. Strong support is found at the $311 level. QNT/USD pair is setting new record highs at the moment. The volatility is also high with the widening Bollinger bands, with the top band at the $404 mark and the lower band at the $89 mark.
The moving average (MA) is AT $317 below the price level, and Bollinger bands are making an average at $247, also below the price marking a bullish trend. The relative strength index (RSI), on the other hand, is hovering above the neutral zone into the overbought limit at a score of 80.
QNT/USD 4-hours analysis: QNT defies bearish market
The 4-hours price chart for the Quant price analysis shows a bearish start of the day, but soon bulls regained momentum and started the flight towards new record highs for the token.
QNT is still on the bullish ride as per technical indicators in the Quant price analysis. The RSI scores above the neutral limits indicate a selling pressure may soon start as traders will now look to book profits before QNT could move further up.
The volatility is high, as can be predicted by widening Bollinger bands with the upper limit of Bollinger band at $413 mark and the lower limit at the $263 mark, making an average at the $338 mark. The moving average is at the $368 mark. Both averages below the price level are still an indication of the strengthening of the bullish momentum. The RSI is above the neutral zone at 77 level.
Quant price analysis conclusion: what’s next for QNT
The 1-day and 4-hours Quant price analysis shows a strong bullish moment but with nonneutral RSI quite above the overbought limit and prevailing volatility is indicating a profit booking period where QNT can consolidate so that bulls could widen their base and gear-up to take the price to a new high. Intraday traders should now be more careful as a plunge in price can happen in the coming hours.
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