In the correction process in prices, which dominates the crypto money market, especially Bitcoin (BTC), there are currencies that have rarely caught a rise. One of them is Quant.
Quant (QNT, which produces solutions that will enable the adoption of Distributed Ledger Technology (DLT) on an enterprise scale, and includes interoperability features, has achieved a great rise in the last week. Quant (QNT) price peaked at 124.49% in just four days, according to TradingView data.
The altcoin, which saw a local low of $44.1 on June 22, reached an all-time high value of $99 on June 25. Having doubled its value in just four days, QNT entered a short correction period. At the time of this article, the QNT price was around $81.
Thanks to Coinbase listing
The price of Quant, which managed to get rid of the correction process in the cryptocurrency market, caught a rise when it was listed on Coinbase Pro on June 23 and opened for trading. The altcoin, which opened limit orders on Coinbase Pro on June 24, peaked in average 24-hour trading volume on June 25.
Apart from being listed on the major exchange, the QNT network had a major update called Overledger 2.0. This update also made it possible to accelerate from June 14. According to the project’s website, this update includes a key feature of the project, “a gateway that enables interoperability across systems, networks and DLTs.”
Consolidation tips in short time frame
The QNT/USDT parity, which reached its all-time high on June 25, declined on June 26 due to profit buying. As of today, although it is observed that the bulls have stepped in again, as it can be understood from the long wick on the first candlestick of the day, the bulls do not have the strength to continue higher levels for now.
The slightly upward trend of the moving averages (MA) and the relative strength index (RSI) just above the midpoint suggest that the bulls have the advantage in the short term.
If the bulls, who reacted quickly to the fall below the 20-EMA level ($80.3) on June 26, manage to eliminate other attempts during the day, a rise towards the $100 target can be observed once again in the short term.
The bears, on the other hand, will apply pressure for a pullback to $71.55, where the 20-EMA level and then the 50% Fibonacci retracement value is calculated. If the pair falls below this level, the price may consolidate for a while. After this point, the first support will be in the region of $55-60.
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