The price of Quant (QNT) is leading the market and social activity and is about to break out in September 2022. So what price is QNT going to be in 2023?
The long-term declining resistance line has been breached by QNT. The resistance level of $110 has been recovered. Quant (QNT) rose by 12.50% during the week of September 18–25, despite the bear market in cryptocurrencies. It is now getting close to a significant barrier at $150.
QNT is one of the few tokens that has increased despite last week's market sell-off. Along with having a good performance, it also had good social indicators, with its social contributions reaching a 90-day high.
Additionally, the price movement for QNT appears to be extremely positive. The weekly graphic makes this particularly clear. A declining resistance line that has been in place since September has been breached by the price. Additionally, the weekly RSI has pierced its downward resistance line that had been in place during this time.
Additionally, the breakout happened following a price reversal at the horizontal long-term support level of $40. (green icon). QNT has so far climbed to a high of $129, just shy of the horizontal resistance zone of $150. The price is currently preparing for an effort to break out. Given that the weekly RSI has already crossed above 50 (green circle), it is expected that the price will retake the $150 region.
If it is successful, the lack of overhead resistance may cause the rate of rise to climb even more.
A bullish perspective is also presented by the daily chart. Since June 13, QNT has been following a rising support line. On September 6, it bounced at the support line. The line and the 0.5 Fib retracement support level fell on the same time frame.
The price then recaptured the $110 horizontal resistance area and is currently moving toward the $130 next resistance.
The negative divergence trend line in the RSI would also be broken by a probable breakout from the highs of August. As a result, it would be anticipated that the rate of increase would quicken dramatically as it approached $150 and perhaps much higher.
