After January 2022 caused the crypto prices to drop to their bottoms, the situation seemed rather bleak for a moment, and many were wondering whether the crypto winter had started, and how long will the cryptocurrencies go. However, just as the coins started finding their bottoms, February arrived, and with it, we started seeing a price recovery that lasted for nearly two weeks.
The recovery was cut short by the bears again, but it did allow some coins to grow quite a bit. Quant (QNT), for example, moved from a bottom at $90 all the way up to $160, nearly doubling its price in less than two weeks of growth.
Quant price performance
Quant is an interesting cryptocurrency with a fairly unimpressive price movement before 2021. The coin launched in mid-August 2018, and for years, its price did very little. There was some growth that took the coin from its starting price to over $14 in mid-2019, followed by a drop to $2 in March 2020, after COVID-19 fears caused the global financial meltdown.
Just like the rest of the cryptocurrencies, Quant started recovering quickly after hitting the bottom at $2, and by the end of the year, the coin has surged enough to hit an all-time high at $16.92. However, all of this pales in comparison with its growth in 2021.
Quant price took off as soon as 2021 had started, continuing the growth that the coin started in mid-March of the previous year. While the highest value in its history was $16.92 in 2020, the coin’s community was very excited when it surged to $40 by early February 2021. Unfortunately for the token, this was a very powerful resistance that actually managed to stop its progression.
While Bitcoin price skyrocketed further and further up, leading the entire market with it, QNT got stuck at $40 and remained below it until mid-May. In mid-May, the coin confused the crypto industry for the second time. While all other cryptocurrencies saw a price drop of 50% or more, this was the time when QNT managed to breach the resistance at $40 and start skyrocketing.
The token doubled its price around June 25th when it reached $92 when most other cryptos kept continuously crashing to new depths. After that, the coin slightly corrected to around $68, and when July 20th came, it started blowing up alongside the rest of the crypto industry, reaching a new all-time high on September 10th, when it officially reached $393.
From that point forward, unfortunately, QNT started spiraling down, and it did not stop until February 2022.
QNT price crashes
After reaching its ATH on September 10th, QNT price first dropped to $360 in 2 short but sharp drops, and then it saw a big one to $280. This was its largest resistance for the next few months, and it kept the coin from sinking while it attempted to rally again. Unfortunately, the resistance at $320 prevented that from happening.
The support finally broke in early November and QNT kept going down until it found the next one in mid-December at $160. Like before, this level managed to hold for about two months, while the coin initially attempted to rally again, but this time, $200 started acting as a resistance. After a while, the coin’s attempts at breaching this level stopped, and it sank to $90, as January 21st, 2022 arrived.
After spending about a week at this level, fluctuating between $90 and $100, the early February actually brought the largest recovery that the coin has seen since its ATH, taking it back up to $160. QNT did not actually manage to reach this level, as the highest it managed to surge was $158.89 on February 7th, but that was as high as it managed to get before the market turned around again, and QNT dropped once again, this time to a support at $120. At the time of writing, it started a new recovery that took it up by 9.19% in the last 24 hours, leading it to the current price of $127.67.
To learn more about this token visit our Investing in Quant guide.
The post Quant (QNT) Finds a New Support After Having Its Rally Cut Short appeared first on Securities.io.
