- The open interest in Quant crypto has advanced over the last 24 hours.
- QNT crypto has performed positively based on its market cap.
Quant, launched in 2018, offers the Overledger Network, facilitating blockchain interoperability via APIs. It supports dApps development across multiple blockchains with a hybrid PoS/PoA consensus.
QNT, its native token, fuels network operations, governance, and MApp creation. Co-founded by Gilbert Verdian and Dr. Paolo Tasca, Quant aims for decentralized, multi-chain connectivity.
The market cap of the Quant crypto has advanced by 2.43% in the last 24 hours while the traded volume of the crypto has declined by 30.5%. The sentiment of the crypto further is bearish, as per Coincodex.
The crypto price volatility is also high at 9.88%, and the fear and greed index further shows greed. Quant is the 68th largest cryptocurrency in the world and has a market cap dominance of 0.06%.
The market cap value of the Quant crypto is $1.326B, and the value of the crypto’s traded volume is $17.921M. This further results in a volume/market cap ratio of 1.35%, showing very little crypto liquidity.
Currently, 81% of the maximum supply of Quant crypto is circulating in the crypto market. This further results in a total supply of 14.881M QNT, and the maximum supply of crypto is the same. This further results in a fully diluted market cap of $1.639B.
Quant Crypto Derivatives Analysis
The derivatives trading volume of the crypto has witnessed a decline of 33.65% in the last 24 hours. The open interest has advanced by 9%, resulting in $10.31M.
The recorded long/short ratio of the crypto is 1.0568, and the short liquidation for the crypto is nil, while the long liquidation over the last 24 hours is worth $8.72K.
Social Dominance Vs. Social Volume
The social dominance of the crypto is very low, as is the social volume of the Quant crypto. This is because the crypto community is less active on social platforms, and there are no significant promotions for any development activity in crypto.
QNT Crypto Technical Analysis
The price of the QNT crypto was trading inside a wide wedge pattern and was taking support at the lower band of the pattern. A few days ago, the crypto witnessed firm profit booking and sell-off, which led the price to decline below the pattern.
After a sudden decline below the pattern, the price rebounded and is currently trading inside the pattern again. The crypto price is presently trading at $109.3, and if it breaks further above $122, it might lead to an uptrend.
QNT/USD Chart by TradingView
The QNT crypto price is trading below the crucial EMAs on the daily chart, and the 20-day and the 200-day EMAs have formed a death cross, and the 50-day EMA is also declining towards the same.
The MACD has formed a bullish crossover of MACD, and the signal line and the histograms formed on the chart also support a bullish price behavior. If the following metrics continue to advance and break above the zero level, a further surge in the crypto price might be seen.
The RSI also advances from the lower levels and has crossed above the 14-day SMA. It is currently trading at a level of 46.3 on the daily chart. If it further breaks above the 50-level and sustains above the same, a bullish momentum can come in crypto price.
Summary
The future of Quant’s price trajectory remains uncertain despite recent positive performance. While its market cap increased, trading volume declined, indicating mixed sentiment.
Technical analysis suggests the potential for an uptrend if it surpasses $122, yet it faces resistance from key EMAs. Factors like MACD and RSI signal bullish potential but lack confirmation.
Technical Levels:
- Support levels: $84.00 and $100.00
- Resistance levels: $140.50 and $154.0
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.