Quant Price Prediction: Is Up Trend Over?

Summary:

Quant's price is up by 5 percent in today's trading season. The surge in price is a continuation of a long-term trend

Quant’s price is up by 5 percent in today’s trading season. The surge in price is a continuation of a long-term trend that had taken a hiatus after more than a week of the crypto trading in a sideways market.

Since its launch in 2018, Quant has continued to gain traction with crypto users due to its premise of connecting blockchains and networks on a global scale while maintaining the network’s efficiency and interoperability. To achieve this, the Quant project uses over ledger blockchain operating system, which is supported by the QNT token.

Today, quant is ranked as the 44th largest cryptocurrency with a market capitalization of over $1.4 billion. It is also able to average above $40 million in trading volume.

Quant Price Prediction

Quant’s price rose by 91 percent in July to close the month, trading at $119. The strong and aggressive bullish trend looks to continue this month, with prices already up by 18 percent since the month started.

Looking at the chart below, we can see Quant has traded within an ascending channel since July. The chart also shows that Quant recently hit a long-term support level of $115 but failed to break to the downside. Therefore, the current push to the upside is a bounce from the support level, and I expect the prices to continue rising.

There is a high likelihood that we may see prices hitting the $132 resistance level in the next few trading sessions. With the current bullish trend being aggressively bullish, a possible $150 price level by early September is possible. However, a trade below the $115 resistance level will invalidate my bullish analysis.