Quant: This is what comes next for QNT as it achieves a new six-month high

ambcrypto.com:

Quant’s QNT turned out to be one of the best performing tokens in the last four weeks. Up by more than 86% from its lowest point in September, the altcoin also surged by 25% in the last seven days. However, QNT still has some room for more upside before retesting its ascending resistance but at press time QNT was overbought.

QNT has been trading in an ascending channel since it bottomed out in June. The current 86% upside from its September lows kicked off after retesting its ascending support, hence the trend was still strong. After maintaining its current trajectory, QNT may retest the resistance line above $180.

Source: TradingView

On the other hand, QNT’s latest upside puts it deep in the overbought territory. Investors are more likely to start taking profits within the overbought zone. Sell pressure within this zone can potentially hinder its ability to retest the resistance.

Source: TradingView

At press time, QNT’s price had been setting higher peaks while the Relative Strength Index (RSI) registered lower highs. Its peak in the last 24 hours confirmed this, hence chances of a bearish retracement may be higher. However, it could still deliver some more upside in the next few days if there is enough buying pressure to fuel the rally.

Here’s AMBCrypto’s price prediction for Quant (QNT) in 2022

A look at some of the factors fueling the current upside may help gauge the potential outcome. Recent confirmations that CBDCs will be part of the future of finance have fueled speculation regarding the supporting infrastructure. Quant is one of the blockchains that have recently been quite vocal about its plans to be a key player in CBDC rollout.