Our Quantstamp price prediction suggests that QSP price could soar to the $0.22 level. However, the price chart of QSP crypto is behaving very weirdly and appears to be a whales’ playground. The chart shows big wicks in the upward direction, suggesting that the whales could be capturing the liquidity. The coin has faced multiple rejections from the $0.10 level. On Thursday, Quantstamp price bounced off the 50 EMA once again but the correction might be still not over.
Quantstamp is an auditing protocol for smart contracts. As per the latest Quantstamp news, QSP has a market cap of $55 million which assigns it 607th rank on Coingecko. QSP is trading at $0.073 and our Quantstamp price prediction needs it to hold 50 EMA. The project has performed successful audits of notable projects like Maker, Prysmatic Labs, and Idle. Since the inception of DeFi, many protocols have been hacked. These hacks have deprived users of millions of dollars.
In such an industry, the demand for smart contract audits is constantly increasing. Quantstamp makes newly launched protocols more secure by testing them for any exploits or backdoors. Although Quantstamp ICO happened on Ethereum, QSP aims to audit Dapps on other L1s as well.
Technical analysis of Quantstamp price chart shows that there have been multiple attempts to pump the price. The abrupt volume and price spikes also raise concerns about whale manipulation. Nevertheless, QSP price seems to be in an uptrend since the start of the year. The price has faced multiple rejections from the $0.10 region and is trading inside a rising edge.
Any break below this rising channel could send QSP price into another multiyear bear market. Similarly, any breakout could make a higher high than April 2021 a possibility. In such a bullish scenario, $0.22 seems to be a valid Quantstamp price prediction in the medium term. Therefore, proper risk management is necessary before entering into any QSP related trade.
This post was last modified on %s = human-readable time difference 18:16