Quantum (QNT) may be one of the lesser-known cryptocurrencies compared to Bitcoin, Ethereum, XRP, Cardano, and Dogecoin, but it is one of those digital assets that is set for a bullish rally over the next few days.
- Quantities advance 14.44% seven days ago
- Cryptocurrency expected to rise 20% due to its bullish momentum
- QNT outperforms a lot of cryptocurrencies after the September bear market
At the time of publication, keep track of Coincodex It shows that the cryptocurrency is changing hands at $153.63 and enjoying an increase of 14.44% from last week.
The digital currency hit an all-time high on September 11, 2021 when it traded for $424.43, but it fell victim to the expected volatility in the cryptocurrency space and at one point fell to $40.97.
But armed with resilience, the asset managed to recover and rise to $163.41 (high after all-time high) and stand on bullish sentiment.
Quantitative Price Pattern Analysis
Under what is known as a head and shoulder pattern, Quantum price is eyeing an immediate bullish trend and is likely to once again outperform the other more popular and bigger cryptocurrencies.
The asset comes from an impressive jump from its September value of $86, increasing by as much as 78% to trade at over $150.
There is a noticeable struggle for the cryptocurrency as it tests the $160 level. Bears are trying to control inflation, which contributes to this scenario.
If Quant succeeds in breaking the $155 resistance mark, sideways traders will have the opportunity to enter, pushing the asset’s price 20% all the way to $188.
At this point, the mentioned trading price will stand as a new resistance, and the low could be $160. Meanwhile, support levels for Quant are currently in the $141-$130 range.
A deeper look at quantity as cryptography
The quantitative market capitalization is currently $1.84 billion. Ranked 32second abbreviation In general, 10The tenth In the Ethereum token segment (ERC20) and 19The tenth In the assets of the first class.
During the initial coin offering (ICO) that expired on April 30, 2018, the cryptocurrency was worth $1.51. Since then, it has made an impressive showing, increasing its value by 101.79% against the US dollar.
Against the leading cryptocurrency Bitcoin and Ethereum, Quant increased the ICO price by 48.69 times and 51.52 times, respectively.
2021 was easily the best for a digital asset, posting a staggering 1,480.25% price hike, from $11.33 to $179. Meanwhile, 2019 was the worst year for Quant, as it just managed to raise its value to $3.66.
Over the past five years, QNT’s average annual growth rate has been 511.39%.
QNTUSD trading pair at $151.6 | Featured image from Finance Magnates, Chart: TradingView.com