- Summary:
- In this Quant price prediction, we explain why QNT price may soon have a major meltdown to $278 as investors take profit after the spectacular rally
The Quant price is in a relentless rally, making it one of the fastest-growing blockchain projects in the world. The QNT price is trading at $350, which is slightly below its all-time high of $385. Quant crypto has jumped by more than 100% this month, making it one of the fastest-growing networks. It has a market capitalization of more than $4 billion and is the 43rd biggest coin in the world.
What is Quant?
Quant is a fast-growing blockchain network that is in the enterprise industry. The platform’s goal is to connect all the world’s distributed ledgers to help create fast growth. The developers have already built the Overledger DLT gateway that helps to deliver interoperability across different systems, networks, and DLTs.
One of the solutions the developers are solving for enterprises is to develop multi-ledger tokens (MLTs). The MLT product is targeted towards central banks, banks, fintechs, and other platforms. It is also creating end-to-end DLI access and other cryptocurrency payments.
The Quant price is rising as retail traders attempt to identify the next big thing in cryptocurrencies. The coin is also rising as investors return to digital assets as evidenced by the strong performance of Bitcoin and other cryptocurrencies.
Quant price prediction
The hourly chart shows that the QNT price has been in a major bullish trend in the past few weeks. In fact, this rally could be described as being parabolic. It has moved slightly above the short and longer-term moving averages. It is currently slightly above the 23.6% Fibonacci retracement level.
With volume easing, I suspect that the coin will likely have a major pullback as bears target the key support at $278, which is along the 50% retracement level. On the flip side, a move above $385 will invalidate the bearish view.
