Bittime – Recently, the value of the Quant token (QNT) underwent a correction, dropping to an important support level at $100. Is this a signal to buy or is it a warning of falling prices? Check out the discussion from Adarsh Singh's crypto analysis below...
Resilience of the Critical Zone
This decline reflects a close resistance confluence with the 50-day Exponential Moving Average (EMA). Despite facing headwinds, the token value showed resilience, bouncing back from the critical buying zone at $90, indicating strong interest from bullish traders.
However, the current market pattern has not shown a definite direction, with ambivalence clearly visible on the trading charts.
QNT Potential to Break $100?
At the time of filing this report, Quant trading price was at $103.20, registering a daily gain of 4.20%, indicating balanced market sentiment. The token's performance over the last month showed a decline of 24.30%, with an annual decline of 9.90%. The QNT/BTC trading pair is at 0.00164 BTC, while the market capitalization has reached $1.01 billion.
Market experts maintain a neutral perspective but project that Quant could continue its upward movement, potentially surpassing the $110 level.
Quant Daily Price to Volume Ratio (QNT)
The daily price-to-volume ratio for Quant showed a revival in the last trading session. Although the overall trend remains neutral, there are signs of strategic buying as investors aim to maintain positions above the 50-day EMA.
Intraday trading volume has seen a significant increase of 3.29%, reaching $17.50 million.
Sumber: Santiment
Following this rebound, Quant markets have experienced increased price volatility during daily trading.
The volatility index has witnessed a notable increase of 11.20% to 0.014.
However, overall market sentiment has taken a dip, falling below the neutral threshold to -0.631.
The Rise of Quant Talk and Interaction on Social Media
According to Santiment analytics, there has been a 2.09% increase in social media interactions related to Quant, indicating an increase in community discussions. In contrast, the metric that tracks the number of followers has decreased by 13.30%, now standing at 47.
Sumber: Santiment
Santiment data also reveals a consistent trend in development activity, maintaining a neutral stance around the 0.048 mark. In contrast, the total number of holders shows a positive trend, remaining on an upward trajectory with around 152,000 stakeholders.
Sumber: Santiment
However, derivatives market data shows a trend of position dissolution, with open interest decreasing by 2.23% to 5.73 million.
Fibonacci retracement levels indicate that QNT price is currently near the 23.6% zone, parallel to the middle Bollinger Band zone. The Relative Strength Index (RSI) is also around the midline, although there has been a negative crossover on the chart.
Check Today's Crypto Market:
The total supply of Quant tokens is 14.61 million, and the volume-to-market cap ratio is at 0.0173, placing Quant in 90th position in terms of market capitalization in the global crypto market.
Recent Quant (QNT) Price
According to Bittime Exchange the price of 1 QNT to IDR is currently at IDR 1,670,525 and over the last 24 hours has decreased by -2.34%
QNT to IDR via Bittime Exchange
Summary:
Quant's market price is currently near the key support level of $100, showing a dynamic fluctuation pattern. Trading activity indicates a market that is poised for potential upside momentum.
Key Technical Indicators:
- Support Zone: $100 and $95 or between IDR 1,626,340.00 and IDR 1,545,023.00
- Resistance Zone: $110 and $120 or between IDR 1,788,974.00 and IDR 1,951,608.00
Also Read How To Buy Crypto:
How to Buy Quant (QNT) from Bittime
You can buy and sell Quant (QNT) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Quant (QNT) is available on Bittime with the market pair QNT/IDR . To be able to buy QNT IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Quant (QNT) on Bittime .
Monitor price chart movements of Quant (QNT), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Bullish Outlook for Quant (QNT) Going Forward
What is an Emergency Fund and Why is it Important in Crypto Trading?
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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