Quant (QNT) Crypto Price Prediction 2023

Quant, launched in June 2018, aims to connect global blockchains via its Overledger Network, enabling multi-chain dApps (MApps).

Quant (CRYPTO: QNT) crypto encountered a market cap of $810,381,330 at press time, reflecting a decline of 3.8% in the last 24 hours, and the crypto's market cap ranking, as per CoinMarketCap, was 74.

The crypto's liquidity stood at 1.21%, with a trading volume of $11.832M in the last 24 hours, indicating a moderate level of activity in the market.

Quant Crypto Price Analysis And Technical Overview

At press time, the circulating supply of QNT was 81% of the maximum supply, resulting in 12.072M crypto. Also, the maximum supply of crypto was 14.881M, resulting in a fully diluted market cap of $1.189B.

The derivatives volume for the Quant advanced by 46% in the last 24 hours, resulting in a traded value of $10.24M.

The liquidation chart of the crypto further showed huge, consistent longs being liquidated in the crypto over the last few days.

Additionally, in the last 24 hours, the liquidated longs for the crypto were worth $19.01K while the short liquidation for the crypto valued nill.

The QNT crypto price has recently reached crucial support levels following a significant breakdown. The daily chart indicates a strong downtrend, marked by the formation of a lower low swing structure.

Examining the overall price action reveals that the QNT crypto trading price fell below a symmetric triangle pattern, leading to notable profit booking. Since this breakdown, QNT has declined by 25%, though it is currently trading at a strong support level.

Any bullish price action from the current levels might change the crypto price trend if the previous swing high is taken out.

QNT/USD Chart by TradingView

The daily chart of the QNT crypto shows the 50-day and 200-day EMAs forming a death cross, signaling a solid downtrend. QNT crypto price has been trading below these EMAs for an extended period, reinforcing the bearish sentiment.

Additionally, the MACD and signal line are positioned below the median level and overlapped, indicating heightened volatility and weakness in the cryptocurrency. This overlap suggests uncertainty in the market direction.

Moreover, the RSI has remained below the 50 level, following a bearish cycle. It indicates declining momentum in the crypto price, further supporting the downtrend observed in the technical indicators.

Summary

Quant (CRYPTO: QNT) crypto has declined by 81% from its all-time high and recently broke below a symmetric triangle, leading to significant profit booking.

The price remains in a strong downtrend, with EMAs forming a death cross, bearish MACD, and RSI below 50, indicating continued weakness and declining momentum.

The price of the QNT crypto might take support at the levels of $65.0 and 70.0, followed by the resistance levels of $103.0 and $116.0.

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.