Quant (QNT) has been acting independently of the market in recent days. In just four months, he made an extraordinary 450% gain. The altcoin is attracting the attention of investors due to its massive rally. Will the rally continue, let’s take a look at the predictions.
Diving into the top 30, Quant QNT brings big returns to its investors
Quant QNT has left Bitcoin, Ethereum and the wider crypto ecosystem in the ongoing crypto bear market. Interoperability-focused Quant Network has gained 65.6% in the last two weeks. The call for CBDCs and their growing mention has brought Quant QNT more to the fore than ever before.
Quant CEO Gilbert Verdian is a recognized member of the crypto and financial world. Verdian sided with the Bank of Italy, the Central Bank of Lithuania and the London Stock Exchange at the European Central Bank. The project emerged as a leading project offering double-digit profits to its owners in the last two weeks.
Quant QNT price climbs to $224.60
Analysts say QNT has been driven by immense hype, which is reflected in its RSI index, which is currently close to 75. An RSI above 70 indicates an overheated market and the price is rising too quickly. Crypto analyst Jake Simmons predicts that the Quant QNT price will pull back to the $133 level.
QNT enters overbought territory, signaling danger?
Quant’s massive price hike has caused many owners to profit from their earnings. Data from Santiment showed Quant to be at its highest point in the last six months on an MVRV basis. Currently, the MVRV is 88.14%, indicating that several investors are making high returns. The 30-day moving average of the indicator reveals 24.89%. QNT has experienced a positive bias among crypto traders over the past four weeks.
On the other hand, we see that the amount of QNT in whale wallets on exchanges has decreased in the last two days. This indicates that large wallet investors are making a profit. Also, traders begin to expect a short-term pullback in Quant price.
QNT is an Ethereum token used to run Quant Network’s Overledger-branded enterprise software solutions. These software solutions specifically aim to connect public blockchains and private networks. Quant Network allows the creation of applications called mDapp that enable decentralized applications to run on multiple networks. You can find more details in this article of Kriptokoin.com.
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