Quant was developed to bridge the gap between use cases of different blockchains. It aims to not reduce the efficiency and interoperability of the network. Quant works as an operating system (OS). This operating system is built as OS distributed ledger technology. Let us look at the technical analysis of QNT.
On July 03, 2021, QNT opened at $74.78. On July 09, 2021, QNT closed at $77.38. Thus, in the past week, the QNT price has increased by approximately 4.34%. In the last 24 hours, QNT has traded between $74.35 – $80.86.
Day-Ahead and Tomorrow
Currently, QNT is trading at $79.30. The price has increased from the day’s opening price of $77.11. Thus, the market seems bullish for the day.
On the hourly chart, the MACD and signal lines have entered the positive zone. However, if the selling pressure continues, we might see a bearish crossover by the MACD line over the Signal line. But, the overall market momentum seems bearish, so we might see a small pullback in the price for some hours. Also, we have to see that the QNT price does not break down from the trend line.
Currently, the RSI indicator on the hourly chart is at 57.12%. It faced rejection at 69% and fell to this level. Thus, sellers are dominating the current market. We have to wait and watch if selling pressures become strong enough to bring about a trend reversal.
In short, when we look at both oscillators, we can say that the price may continue to rise for a few hours. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch to see if an intermittent price rise is a corrective action or the beginning of a positive trend.
QNT Technical Analysis
Currently, the price is trading below the Fibonacci pivot point of $79.50. If the bears remain strong till day end, then the price is likely to fall below the first, second, and third support levels of $78.6, $77.65, and $75.70, respectively.