QUANT is making some positive noise, despite the bear market, with QNT notching gains in the last week.
Most cryptocurrency exchanges have made some decent profits recently, despite the beatdown form the broader crypto market.
Cryptocurrencies, meanwhile, have kept the charts green even while the stock market suffers from larger macroeconomic issues.
One of the tokens is QNT, which gained 35.77 percent, making it one of the top gainers of the past seven days. An improvement in the coin’s fortunes may be in the offing.
Market trust in cryptocurrency could be bolstered by the rise of Quant as the market recovers.
QUANT Recovers, Up 50%
Inflation data announced by the U.S. Federal Reserve on September 13 jolted global financial markets. Due to strong links between the S&P 500 index and Bitcoin, the stock market brought down the cryptocurrency market with it.
Back then, the QNT price had a hard time moving above the $112.12 barrier. As of September 13 and beyond, the crypto market as a whole plummeted, and QNT was no exception, instantly experiencing a decline.
At the same time, market uncertainty and skepticism made it difficult for bulls to drive the price of Ethereum and Bitcoin higher.
As of this writing, the token’s value has increased by about 50 percent since September 13. During this latest occurrence, the majority of coins merely enjoyed modest gains. But what do the current signs reveal?
Market Shifts Anticipated
Currently, the Stoch RSI is in the hundreds. This indicates that the asset is grossly overbought and will have a price correction within the next few days . Currently, the CCI figures are also declining.
Due to Quant’s current price level, traders and investors may sell their QNT coins to profit from the recent market action. This price movement is supported by the range of $126.83.
If a correction occurs because Quant is overbought, we can see a decline to $122.18.
As of the time of writing, the price is positioned between the 50 Fib line and the 38.20 Fib level. The pricing is currently rather constant.
QNT’s function in the crypto realm is a significant factor in their robustness. Quant’s primary service consists of applications that allow different blockchains to communicate, enabling the transfer of coins.
In light of this, we may expect better news concerning Quant in the next days.
QNT total market cap at $1.62 billion on the daily chart | Source: TradingView.com
Featured image from Motivation Grid, Chart: TradingView.com