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Quant (QNT) Gains In Value Daily When Many Top Coins Bleeds

Quant (QNT) Gains In Value Daily When Many Top Coins Bleeds

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The major cryptoassets do not show significant price growth. As such, it is difficult to track the best breeders in the crypto market. Still, the coin has shown an impressive price differential against major cryptocurrencies.

The past week has been an interesting one for Quant ($QNT), despite the decline in prices in the cryptocurrency market. $QNT is one of the few tokens that is growing despite the leak of top coins. Based on this chart, the overall price movement of QNT looks exceptionally bullish.

Related reading: Polkadot Price Watch: What could a drop in this key area mean for DOT?

This article provides technical information about the price of the Quant token. It also gives a brief overview of the Quant token, which can be of great value to potential crypto enthusiasts and investors. Look.

Quantitative price technical analysis

The weekly chart shows the upward movement of the Quant. The price has broken away from the falling resistance line that has been in effect since September. Additionally, the breakout came after the price bounced off the long-term $40 horizontal support area.

Currently, the price is preparing for a breakout attempt. So far, QNT has hit a high of $119, just below the horizontal resistance area of ​​$150. Since the weekly RSI has already broken out, the price is likely to recapture the $150 area.

The daily chart also offers a bullish outlook. The token has been following an ascending support line since June 13th. It recently bounced at the support line on September 6. Later, the price regained the horizontal resistance area of ​​$110 and is approaching the next resistance at $130.

QNTUSD
QNT is currently trading above $119. | Source: QNTUSD price chart from TradingView.com

Quant launched its token, QNT, in 2018. The token started trading at around 27 cents; by 2021 it was nearly $12. It peaked at $428 in September 2021, but fell below $100 in February 2022.

At launch, Quat burned 9.5 million due to low ICO sales, bringing its total supply to 14.6 million by April 2019. The supply is fixed, although the circulating supply may decrease when tokens are locked into Quant’s services.

Related Read: Bitcoin Active Addresses Remain Low, Hint That Demand Is Not Yet There

Quant Network allows blockchain developers to launch their multi-DLT dapps (mDApps) on multiple blockchains at once. This interoperability prevents the risk of a developer spending time and money building a blockchain that will fade in popularity after a few years.

Featured image from Pixabay and chart from TradingView.com

Source: NewsBTC.com



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