The cryptocurrency market has once again entered the weekend on a bearish mode. Most tokens were trading on the green zone during the week, but the weekend has commenced with them retreating to the red zone. Quant, one of the popular altcoins, has followed the trend, and it has retreated to bears. QNT is trading at $76.05 on major exchanges at the time of writing after an 8.9% decline.
Quant Price Analysis
Quant has been trading at critical support levels this week, attributed to the sudden decline in bitcoin and altcoins. The decline has interrupted the steady uptrend the coin had managed to create this week.
Currently, QNT needs to concur bears and maintain a price above the $75 mark. Holding above this level will be great for the token because it will prevent a further slide downwards. However, holding above that support level will require support from buyers and the broader cryptocurrency market.
If the token moves below $75, it will retrace to lower levels until new support of $70 or $60 is established. A further downtrend will create a buying position for users, which might stabilize the token’s price.
On the upward, if the price of the token manages to push past $80, the next break out will be at $100. An upsurge in the entire market can trigger such levels. Achieving such levels will also boost selloffs from traders who are going short, which may trigger a further retreat in price.
What gives QNT value aside from trading demand is the Quant network. The Quant Network is a technology that allows interoperability between blockchains using the Overledger operating system.
The Quant Network is unique because it was built as the first OS for blockchains. The network is easily adopted into various ecosystems, including healthcare, financial services and more. Quant’s Overledger protocol places it in a unique position to be the next-level technology. This innovation has made the network garner support hence its growth by more than 800% this year.
Where to Buy Quant
If you want to buy Quant tokens, you can check at the below crypto exchanges:
One of the most reputable cryptocurrency exchange platforms is eToro. The exchange comes with user-friendly features that make it ideal for beginner traders. Some of the best features of the exchange include copy trading, low trading fees and a demo account.
The other leading exchange that supports QNT is Bittrex. The exchange’s trading fees are highly competitive, and it also has user-friendly features that will make it easy for new and experienced traders to use the platform.
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