Quant (QNT) is a cryptocurrency that connects traditional financial networks with blockchain networks. It is currently in a bearish structure, with a possible bottom around $64. However, a bear market rally is expected in October, possibly retesting the $106 level.
In the long term, Quant has bullish potential, with price targets ranging from $340 to $11,000. This is based on technical analysis, which assesses the cryptocurrency market’s performance.
Here is a more detailed analysis of the bear market outlook for Quant and potential price levels:
Bear market structure
Quant is currently in a bearish structure, as evidenced by the following factors:
- It is below its 50-day and 200-day moving averages.
- It is making lower highs and lower lows.
- It has broken below key support levels.
Potential bottom
The potential bottom for Quant is around $64, which is the lowest price it has fallen to since June 2022. However, it is important to note that cryptocurrency markets are highly volatile, and prices can move quickly in either direction.
Bear market rally
A bear market rally is expected in October, possibly retesting the $106 level. This is based on technical analysis, which suggests that Quant is oversold and due for a bounce.
Long-term bullish potential
Quant has bullish potential in the long term, with price targets ranging from $340 to $11,000. This is based on the following factors:
- Quant has a strong team and a unique value proposition. It is the only cryptocurrency that can connect traditional financial networks with blockchain networks.
- Quant is being adopted by major financial institutions.
- The cryptocurrency market is expected to grow significantly in the coming years.
Investment strategy
Dollar-cost averaging under $100 for Quant may be a good investment strategy. This means investing a fixed amount of money on a regular basis, regardless of the price. This will help to reduce the overall risk of your investment.
Conclusion
Quant is a cryptocurrency with bullish potential in the long term. However, it is currently in a bearish structure, and there is potential for further price drops in the short term. Investors should be aware of the risks involved before investing in any cryptocurrency.
