Quant (QNT) has been one of the best performing cryptocurrencies in the past week. Quant has had gains of 50% in the past seven days. Quant is skirting near its all-time high of $63 but facing strong resistance at the moment. At the time of writing, Quant stands at a price level of $61. The price has moved up by 6% in the past twenty-four hours while the daily trading volume has declined by 8%.
Quant (QNT) Technical Analysis
The market sentiment for the cryptocurrency is bullish. Out of the total twenty-six technical indicators, fifteen are giving out a signal of buy while nine stand at a neutral position with only two indications of sell. The oscillators have stayed neutral over the past week while the weekly moving averages suggest a strong uptrend in the cryptocurrency.
The Bollinger Band analysis for Quant suggest that the cryptocurrency may be in oversold conditions. The Bands are widening which suggest increasing volatility for the cryptocurrency. The one-year price forecast by Wallet Investor suggests that the cryptocurrency will be trading at a price $119 while the five-year price prediction places the cryptocurrency at a price level of $365.
What is Quant (QNT)?
Quant is ranked at ninety-sixth position in terms of market capitalization. Quant was launched in 2018 with the aim of increasing the interoperability of blockchains in the industry. While a lot of scaling options exists for multiple blockchains, Quant targets the lack of interoperability in the blockchain space through an innovative approach. Quant is regarded as the first blockchain operating system for increasing the interoperability of blockchains. The underlying platform of Quant cryptocurrency is the Overledger Network. The Overlegder Network acts as an operating system and; hence, a bridge for different blockchains.