Quant Price Monitor – Crypto is eyeing 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 the digital assets set for a bullish rally over the next few days.
- Quants notched 14.44% seven days ahead
- The crypto is expected to rise by 20% due to its bullish momentum
- QNT outperforms many altcoins after the bearish market in September
At press time, tracking from Coincodex shows the crypto changing hands at $153.63 and enjoying a 14.44% increase in the past week.
The digital currency reached its all-time high on September 11, 2021 when it traded at $424.43, but has fallen victim to the expected volatility of the crypto space, falling at one point to $40.97.
But armed with resilience, the asset managed to recover and rise to $163.41 (the highest price after the all-time high) and has a bullish sentiment.
Quant price pattern analysis
Under what is known as the head and shoulders pattern, Quant’s price sees an immediate bullish run, potentially once again outperforming other more popular and larger cryptocurrencies.
Source: TradingView
The asset is coming off an impressive jump from its September high of $86, rising as much as 78% to trade above $150.
There is an observed battle for the crypto as it tests the $160 level. Bears try to control inflation, and contribute to this scenario.
If Quant succeeds in breaking the $155 resistance marker, sideline traders will have the opportunity to step in, pushing the asset’s price by 20% all the way to $188.
At that point, the said trading price will stand as its new resistance, the lowest of which could be $160. Meanwhile, support levels for Quant are currently between $141 and $130.
A deeper look at Quant as a crypto
Quant’s market cap is currently at $1.84 billion. It ranks 32ndn.d total, 10th in the Ethereum (ERC20) token 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 show, increasing its value by 101.79% against the US dollar.
Against cryptocurrency leaders Bitcoin and Ethereum, Quant increased its ICO price by 48.69x and 51.52x respectively.
The year 2021 was easily the best for the digital asset as it recorded an impressive price increase of 1480.25%, 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 past five years, QNT has averaged an annual growth rate of 511.39%.
QNTUSD trading pair at $151.6 | Featured image from Finance Magnates, Chart: TradingView.com
