July 13, 2024

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Quant Price Monitor – Crypto Is Looking At A 20% Rally This Week

2 min read
Quant Price Monitor - Crypto Is Looking At A 20% Rally This Week

Quant (QNT) may be one of the lesser known cryptocurrencies compared to Bitcoin, Ethereum, XRP, Cardano and Dogecoin, but is one of those digital assets that is set for a bullish rally over the next few days.

  • Quant’s notches 14.44% seven-day advance
  • The crypto is expected to rise by 20% due to its bullish momentum
  • QNT is outperforming a lot of altcoins after the September bearish market

At press time, tracking from Coincodex shows the crypto is changing hands at $153.63 and is enjoying a 14.44% increase for the past week.

The digital currency attained its all-time high on September 11, 2021 when it traded for $424.43 but has fallen victim into the expected volatility of the crypto space and at one point fell to $40.97.

But armed with resilience, the asset managed to recover and rise to $163.41 (its highest price after its all-time high) and is sitting at 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.

Source: TradingView

The asset is coming from an impressive jump from its September value of $86, increasing by as much as 78% to trade at above $150.

There is an observed struggle for the crypto as it tests the $160 level. Bears are attempting to control inflation, contributing to this scenario.

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.

At that point, said trading price will stand as its new resistance, the lowest of which could be the $160. Meanwhile, support levels for Quant currently stand between $141 and $130.

A Deeper Look At Quant As A Crypto

Quant market capitalization is currently at $1.84 billion. It ranks 32nd overall, 10th in the Ethereum (ERC20) tokens sector and 19th in Layer 1 assets.

During its Initial Coin Offering (ICO) that ended on April 30, 2018, the crypto was priced at $1.51. Since then, it has put together an impressive showing, increasing its value by 101.79% against the U.S. dollar.

Against cryptocurrency leaders Bitcoin and Ethereum, Quant increased its ICO price 48.69x and 51.52x, respectively.

The year 2021 was easily the best for the digital asset, as it recorded a mind-blowing 1,480.25% price increase, from $11.33 to $179. Meanwhile, the year 2019 was the worst for Quant, as it just managed to raise its value to $3.66.

Over the last five years, QNT averaged a yearly growth rate of 511.39%.

QNTUSD trading pair at $151.6 | Featured image from Finance Magnates, Chart: TradingView.com