Quant crypto price forecast as exchange supply crashes

Quant crypto price has staged a strong recovery in the past few weeks, soaring from a low of $69">Copy link

Why QNT demand is rising

There are several reasons why this trend is happening. First, the Quant network has made several major deals this year. Its most significant one is with Oracle, which is using its technology to build the Oracle Blockchain Platform Digital Assets Edition (OBP DA).

OBP DA is a financial solution designed to help companies streamline tokenization, unify ledgers, and enable cross-ledger orchestration for digital assets. In other words, the platform creates a unified ledger framework for digital assets. Quant provides the interoperability and cross-ledger orchestration capabilities.

Most recently, the developers launched Quant Fusion, an interoperability and liquidity solution designed to unify fragmented digital asset markets by connecting public and private blockchains. Its goal is to enable institutions to trade and move assets seamlessly across multiple networks. It eliminates that need for wrapped tokens and introduces the concept of layer 2.5.

Analysts believe that Quant Fusion transactions, fusion gateways, and overledger licensing lockups will help to boost demand for the QNT token.

Meanwhile, Quant is hoping to benefit from the ongoing growth of the real-world asset (RWA) tokenization industry, which analysts believe is in its infancy. RWA assets under management have grown to over $35 billion, and analysts believe the figure will be in the trillions in the next decade.

Quant has a role to play through its Overledger product, which facilitates cross-chain communication across multiple chains and off-chain platforms. It is often seen as a more advanced product compared to Chainlink’s CCIP.

Quant price technical analysis

QNT price chart | Source: TradingView

The daily timeframe chart shows that the Quant token price has rebounded in the past few weeks, moving from the November low of $69.12 to the current $96.

QNT formed a double-bottom pattern at $69.1 and a neckline at $97.5. A double-bottom is one of the most common bullish reversal signs in technical analysis.

The token has moved above the 50-day and 200-day Exponential Moving Averages (EMA). It is also hovering at the major S/R pivot point of the Murrey Math Lines tool.

There are signs that the ongoing pullback will be temporary. If this is the case, there is a likelihood that it will rebound in the coming weeks, and possibly retest the ultimate resistance of the Murrey Math Lines tool at $125, which is about 30% above the current level.

The post Quant crypto price forecast as exchange supply crashes appeared first on Invezz

Quant crypto price forecast as exchange supply crashes

Why QNT demand is rising

Quant price technical analysis

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