Quant has been following the trend of bitcoin and altcoins in the past week. Altcoin started a slow recovery this week, and QNT has joined the trend. However, Quant is still at an advantage compared to most altcoins, given that it is still on a 30% gain in 30 days and up 920% in one year.
In the past 24 hours, Quant has increased by 10.6%, and it is trading at $70.70 at the time of writing.
Quant Price Analysis
Quant has been spiking in the past few days because of support from the crypto market. The price growth has pushed QNT to trade at the critical support of $70. At this level, we will witness the coin pushing towards the upside or the downside.
If Quant manages to gain strong ground at $70 and create an uptrend, the ne3xt stop for the token will be at $73 and then $75. Reaching $75 may create a strong bull for the token that may push it towards $80 and $100. However, such support largely depends on how bitcoin will perform over the weekend.
On the downside, if QNT fails to hold $70 and goes back to $65 support levels, it might retreat to $60, especially if the broader crypto market weakens. The $60 level may be what new holders are waiting for to establish an entry position. However, if Quant resists a downtrend, bulls might be realized.
Whether Quant will rise or fall largely depends on how the broader crypto market will perform. However, some factors may also influence QNT’s price trend. One of these is news on the adoption of the token’s underlying technology.
On June 17, Quant provided an upgrade to its newly launched Overledger 2.0.1 API using four API extensions. This allowed Quant to expand its functionality to the multi-DLT applications (mDapps) sector. The development might create more adoption for Quant and hence boost adoption.
Like other native tokens based on blockchain technologies, the scalability and adoption of their networks affect the token prices.
Where to buy QNT
If you want to purchase QNT tokens, create an account on a crypto exchange. Some of the most reputable crypto exchanges include:
eToro
One of the most reliable exchanges where you can buy QNT tokens is eToro. The exchange allows you to transact at friendly trading fees. Besides, it allows you to copy trade from seasoned traders, increasing your chances of making profits.
Binance
Binance offers support for Quant and a wide range of altcoins. It is the largest crypto exchange, hence giving you access to many crypto trading pairs. Binance also offers some of the lowest trading fees.
Looking to buy or trade Crypto now? Invest at eToro!
75% of retail investor accounts lose money when trading CFDs with this provider
Credit: Source link
