Price Analysis

Quant Coin Outperforms Major Crypto Coins In Last Four Months; Still A Good Buy?

High momentum breakout from the $206 resistance offers further growth potential in Quant Coin, but should new buyers enter?
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Quant Coin Outperforms Major Crypto Coins In Last Four Months; Still A Good Buy?

The Quant(QNT) coin undermines the negative market sentiment by a perpendicular rally since last week. The altcoin has been rising for five consecutive days and registered around 42% growth. The QNT price currently trades at the $216 mark and has breached another resistance of $206.8. How far will this rally go?

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Key points from Quant Coin price analysis

  • The Quant price offers a decisive breakout from the $206 resistance 
  • A bullish crossover between the 100-and-200-day EMA should further gain for buyers
  • The intraday trading volume in the Quant is $142 Million, indicating a 290% gain 

Source-Tradingview

The daily time frame chart shows that the Quant coin price is rising under the influence of a rounding bottom pattern. The bullish pattern is often found at the market bottom, and in theory, its U shape reflects a complete shift in market sentiment from a prior downtrend to new recovery.

Furthermore, the ongoing recovery was initiated when the price reverted from $42.7 on June 18. Thus, the Quant coin price showed 430% growth in the last four months. Nevertheless, in recent times when most of the major cryptocurrencies are struggling with uncertainty, the Quant price is on its five-day winning streak. Moreover, the increasing volume of activity indicates strong interest from market participants, validating it is a genuine rally.

Moreover, the altcoin showed a 12% jump today and gave a massive breakout from the other resistance of $206. This breakout offers suitable footing for buyers, which should prolong this rally 10.84% higher to hit $240.

However, the Quant coin price witnessed excessive buying in such a short period, which is unhealthy and less sustainable for longer bull runs. Thus, the prices are expected to offer a correction in the near term.

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Technical Indicator 

Relative Strength index: the daily-RSI slope spiked into the overbought region, indicating aggressive buying and a need for a correction phase to stabilize prices.

EMAs: For a possible correction, the rising EMAs(20, 50, 100, and 200) could provide suitable support to resume prevailing recovery. 

  • Resistance levels- $240 and $265
  • Support levels- $205 and $180
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Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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