Quant Network, a leading cyber security technology company based in St. Albans, is making headlines worldwide as its QNT token rapidly rises to the top of the crypto world. The QNT token is now included in the Top 30 cryptocurrency list and has garnered an enviable “overbought” status.
At the time of writing, QNT was the 27th largest cryptocurrency per market capitalization, leaving the leading privacy-focused cryptocurrency, monero, behind and changed hands above $210, the highest since December 2021.
The QNT token’s meteoric rise has come from an increased accumulation of coins by address owning 100 QNT and 1,000 QNT, dubbed whales by blockchain analytics firm Santiment. This level of buyout activity has led to experts claiming that the token could continue its rise organically or through further interventions from whale-like investors looking for quick profits in the crypto space.
Given the price volatility in this sector, it is difficult to predict what will happen next, but savvy traders are placing their bets on a continued surge beyond current levels.
What does indicators suggest about the QNT token?
The RSI and MACD indicators suggest that the QNT token is experiencing a period of solid momentum, with both indicators indicating overbought conditions. This suggests that the price of QNT may continue to rise in the near future, driven by investors eager to capitalize on its recent success. However, it is important to note that no indicator can predict the direction or magnitude of price fluctuations with absolute certainty.
Source: Tradingview
The Balance of Power indicator provides further evidence that QNT token is experiencing solid momentum upward. This indicator measures the strength of buyers and sellers in a given market and is often interpreted as a sign that an asset is likely to rise or fall in value soon.
With its rising popularity and increasing usage in cryptocurrency, it is clear that QNT token is a promising investment opportunity. However, as with any other crypto asset, investors should do their due diligence to assess the risks associated with this particular asset before making any investment decisions. Whether you are an experienced investor or a new trader, the QNT token is worth keeping an eye on in the coming months as it continues to capture the attention of traders worldwide.
Conclusion
The QNT token has been gaining much attention recently, with many investors seeing it as an attractive investment opportunity. This is large since this cryptocurrency has surged significantly in value over the past year, reaching into the Top 30 crypto list and achieving an “overbought” status.
