Quant: Assessing whether or not QNT remains a profitable investment

  • QNT saw a huge spike in whale transactions exceeding $100,000 on January 7th.
  • Price movements reveal a pick-up in coin accumulation.

During the intraday trading session on January 7, there was a notable increase in the number of large trades (over $100,000) involving amount [QNT]reveal Santiment data.

According to data from the on-chain analytics platform, the alt closed the trading day with 221 QNT transactions valued at over $100,000, the highest in 16 months.

Source: Feeling

After seeing a similar increase in the volume of large transactions by whale investors on December 30, the price of QNT rose rapidly by 10%. Therefore, it may be worth looking into the possibility of similar price growth in the near term.

Read Quant [QNT] Price prediction 2023-24

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At press time, QNT changed hands at $113.52. by data from CoinMarketCap, the price of QNT rose 7% in the last week. An assessment of the crypto asset’s performance on a daily chart suggested that the uptrend could continue as long as macroeconomic factors remained favourable.

A look at QNT’s Bollinger Bands (BB) revealed very low price volatility in the market. Also, with the narrow bandwidth between the upper and lower BB bands, the QNT price was less prone to significant price swings in the interim. This suggested that QNT holders could take advantage of the bullish momentum to book profits before the bears re-enter the market.

Additionally, key momentum indicators such as the Relative Strength Index (RSI) and the Money Flow Index (MFI) have been trending upwards since the beginning of the year. Now positioned above their respective neutral zones, the RSI was at 52.71, while the MFI was at 55.63 at press time.

Likewise, QNT’s Chaikin Money Flow (CMF) marked its spot at 0.10. A growing CMF is often seen as a sign of a strong buyer-driven market. Therefore, the price of QNT is expected to continue to increase.

How many amount [QNT] can you get it for $1?

The moving average convergence/divergence (MACD) of QNT indicates that a bull market was taking place, which should lead to further price increases for the asset.

The MACD has shown only positive (green) histogram bars since the beginning of the year, and the size of these bars has been steadily increasing. This is a sign of strong bullish sentiment, which may push the QNT price to new highs.

QNTUSDT 2023 01 08 07 56 00

Source: TradingView

Furthermore, on-chain readings revealed that QNT had been an increasingly profitable crypto investment since July 2022. Its ratio of market value to realized value (MVRV) has been positioned above one, meaning that QNT investors who have since sold have seen double the gains on their investments.

Finally, with investors positive conviction of further price growth, QNT sentiment weighted at 0.495% at press time.

Quant QNT 07.56.14 08 Jan 2023

Source: Feeling

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