Quant Network Price Analysis – QNT Ready To Continue Surge After Rebounding From .618 Fib Support?

Key highlights:

  • QNT is up by a strong 11.5% today as the cryptocurrency breaks back above the 20-day MA at $320
  • The cryptocurrency found support at $260 (.618 Fib Retracement) after falling from above $400 earlier in the month
  • Against BTC, QNT found support at ₿0.006 (.5 Fib Retracement) and rebounded to the current ₿0.00763 level
Quant Network price$327.2
Key QNT resistance levels$350, $360, $380, $400, $420
Key QNT support levels$320, $315, $300, $286, $280

*Price at the time of publication


Quant is up a strong 11.5% today as the cryptocurrency breaks back above $300 and climbs beyond the 20-day MA at around $320. The coin had dropped from above $400 earlier in September and has been on a consistent downtrend ever since. Recently, it managed to find support at around $261, provided by a .618 Fib Retracement. The market managed to rebound from there yesterday.

The Quant Network is a project that is focused on Interoperability between blockchains. Its main product is called Overledger OS, and it is an operating system that connects enterprise networks with different blockchains to allow corporations to launch enterprise-grade multi-chain applications.

The cryptocurrency is up by a strong 340% over the past three months of trading after a slew of major fundamental drivers. First, the network recently upgraded to Overledger 2.05 in early September, improving the Interoperability within the network.

Overledger 2.0.5 released to bridge ecosystems with Stablecoins, DeFi, NFTs & popular ERC20/ERC721 digital assets for clearing & settlement.

The new Payment API settles between different digital asset types with a few lines of code.

More: https://t.co/Qte4ot49yJ #NFT pic.twitter.com/R7NybtFZIS— Quant (@quant_network) September 7, 2021

Another reason that QNT has been pushing higher recently is due to the fact that QNT started to offer incentives to developers through a developer program. Lastly, major exchanges have also started to add QNT to their platforms. For example, Coinbase and Binance both recently added QNT to their top-tier exchanges

QNT is ranked in the #42nd position as it currently holds a $3.94 billion market cap value.

QNT is launching on https://t.co/bCG11KveHS & in the iOS & Android apps within the next 15 mins. You may need to update your app to buy, sell, convert, send, receive or store QNT. We will update when all are fully live. https://t.co/8JSiuLsAmJ— Coinbase (@coinbase) June 24, 2021

Quant price analysis

What has been going on?

Taking a look at the daily chart above, we can see that QNT really started to take off in September after surging back above $200 in the first few days of the month. The cryptocurrency did push above $200 in August but could not continue much further above $210. As a result, QNT would roll over and head lower into the $180 support by the end of the month.

After breaking back above $200 in the first week of September, QNT would go on to explode as it surged past $300 and continued further higher to reach as high as $430. More specifically, the cryptocurrency could not close a daily candle above $400 and started to roll over from there in the middle of September. 

At the start of this week, QNT would go on to fall beneath support at $350 and plummet beneath $300 and the 20-day MA. It continued to fall during the week until support was finally established yesterday at $261, provided by a .618 Fib Retracement level. The market finally rebounded from there yesterday, allowing the coin to break back above $300 and meet the 20-day MA level.

Today, QNT continued to climb above the 20-day MA as it trades at around $325.

QNT price short term prediction: Bullish

QNT  is considered bullish right now. The cryptocurrency would need to break beneath $250 (100-day MA) to turn neutral in the short term. It would need to continue further beneath the August support at $4140 to be in danger of turning bearish.

If the sellers do push lower, the first support lies at $315 (20-day MA). This is followed by support at $300, $286 (.5 Fib Retracement), $261 (.618 Fib Retracement), and $250 (50-day MA). 

Beneath this, added support lies at $225 (.786 Fib Retracement), $200, and $178.

Where is the resistance toward the upside?

On the other side, the first resistance lies at $350. This is followed by $380, $390, and $400. If the buyers can finally break beyond the $400 resistance, additional higher resistance lies at $420, $445 (1.272 Fib Extension), $460, and $475 (1.414 Fib Extension).

If the bulls continue further higher, additional resistance lies at $500 and $520 (1.618 Fib Extension).

QNT/BTC price analysis

What has been going on?

QNT is also performing very well against BTC itself as it managed to set a new high at ₿0.00956 in September. The cryptocurrency had surged from a low of around ₿0.0035 in the month as it surged to the new high. 

In the second week of September, QNT would go on to fall lower from the highs. At the start of this week, QNT would fall beneath the support at ₿0.0075 and would continue to fall until support was found at ₿0.00647 yesterday, provided by a .5 Fib Retracement level.

It rebounded from the support at ₿0.00647 yesterday as it surged back above the 20-day MA level to break ₿0.007 and reach as high as ₿0.0075 today.

QNT price short-term prediction: Bullish

QNT is also bullish against BTC. The coin would need to fall beneath ₿0.0055 to turn neutral and fall further beneath the support at ₿0.004 to turn bearish.

If the sellers push lower, the first support lies at ₿0.007 (20-day MA). This is followed by additional support at ₿0.00647 (.5 Fib Retracement), ₿0.006, and ₿0.0058 (.618 Fib Retracement level).

Additional support lies at ₿0.0055, ₿0.00525 (100-day MA), and ₿0.005.

Where is the resistance toward the upside?

On the other side, the first resistance lies at ₿0.0075. This is followed by ₿0.008, ₿0.0075, and ₿0.00881 (high-day closing price). This is followed by additional resistance at ₿0.009, ₿0.00956, ₿0.01, ₿0.0105, and ₿0.0111 (1.272 Fib Extension).

Tags

Share this post:

Share on facebook
Share on twitter
Share on pinterest

Post comment

Your email address will not be published. Required fields are marked *