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QNT is down by 1.41% in a single day, listed at $66.67 when writing this article. It further reflects a decline of 3.65% in the last 7 days and 6.81% in the last 30 days. However, community members hope it will eventually make a breakthrough for a higher value. Trends suggest that whales are accumulating the dips. If true, then it will navigate a way around the ongoing downfalls.
The next 5 days are expected to be on the same line with a fall of 4.28%. The next 30 days will surge 0.55% from the current value per near-term projections. Prevailing sentiments are largely bearish despite volatility being decent at 4.70%. The 50-day SMA and the 200-day SMA are $70.36 and $86.64, respectively. That hints at the potential downtrend for Quant. In other words, a rebound is more than expected at this point. It could be a matter of when and now how.
Some of the key factors that affect the rise of Quant prices are its demand and overall market conditions. While the demand for the token is an obvious factor to understand, overall market conditions include several factors, including, but not limited to, the price of top tokens, trends across the sphere, and rate cuts by the Federal Reserve. Inflation is also a factor, as oil prices are speculated to rise amid the war between Israel and Iran.
According to the Bollinger Band, one of the key levels is $80.7. Another level is at $85, provided it sustains a continuous rise on the price chart. The 14-day RSI is 40.68 for a neutral sign. QNT is neither oversold nor undersold. But, it is right at the corner of transitioning to being underbought. Prices could rise if the Relative Strength Index slips any further.
The overall outlook for QNT is bullish. Year-end is projected to see a rise to $96.28, with an alternative landing of $80.26. According to the QNT price prediction and the remaining days, this year’s range is from $60.13 to $96.28. Bearish signals, if any, will pull Quant back to the danger zone.
Signals are mixed in terms of network growth and transactions. Network growth has plummeted by 0.25%, but large transactions have increased by 0.98%. Network growth indicates that fewer participants are joining the network, while an increase in the number of large transactions suggests that institutional investors and whales are making positive moves to accumulate QNT.
Uptick signals are on the horizon if futures traders push the token higher in the short term. It has to be with the rising confidence among long positions. Moving forward, it remains to be seen if Quant’s QNT moves beyond key levels or remains steady within the lower part of the range.