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28 March 2024
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Altcoins

QNT Price Analysis: Bulls have a field day as they give Quant price a lift

•The trading volumes have increased by 33.28% over the past day

Short Term View: Quant Coin to continue its upside

Source: QNT/USD by TradingView 

The Quant price today is $152.59 USD with a 24-hour trading volume of $36,415,665 USD. Quant is up 5.13% in the last 24 hours. The trading volumes have increased over the past day, suggesting increased investor activity. The Volume to Market Cap Ratio, on the other hand, depicts the strong sentiment in the market and stands at 0.1548.

After falling significantly from its all-time high of $428.38, Quant found support at the bottom of the descending channel around $130 and has been able to turn the tide around in the past few days. The altcoin is trading above the 20,50 SMA on the four hour chart, with the both them leading the 200 SMA as well. If the momentum sustains, the bulls could encounter resistance at $161 whereas the support lies at $138 on the other end of the spectrum. 

Long Term View for Quant Coin

Source: QNT/USD by TradingView 

The RSI Indicator for Quant Coin is transacting in the oversold region, and slope is rising above the central line, sustaining above the 14-day average. This is indicating a rise underlying bullishness, possibly giving a breakout of the falling wedge pattern. The MACD on the other hand, shows the MACD and signal lines residing in the positive zone and gaining strength continuously. The green histograms are on the rise as well, lending credence to the bullish stance. 

Conclusion 

Following the above analysis, it is evident that there’s a massive demand for the Enjin coin.An expected spike in the buying pressure behind the altcoin will likely allow bulls to crack above the overhead resistance and carry the asset towards greater heights.

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Support: $138

Resistance: $161

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss. 

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