Key Highlights:
$QNT trades at $101.37, down 8.18% in the last 24 hours, with a $31.9M trading volume.
RSI at 29.29 signals oversold conditions; key support at $102.43 may spark a short-term bounce.
Bulls target major resistance levels at $167, $228, and $429 for potential breakout.
Current Market Sentiment
Quant ($QNT ) is navigating bearish conditions but maintains bullish sentiment for a potential breakout. Despite an 8.18% daily decline, historical patterns and technical indicators suggest recovery could be on the horizon.
Market cap currently stands at $1.48B, with a circulating supply of 15 million QNT. Analysts believe recent dips are part of accumulation, as seen in past V-shaped recoveries in May 2022 and December 2024.
Key Support and Resistance Levels
Support Levels:
$102.43: Critical short-term support indicated by Bollinger Bands.
$95.00: Historical support zone, offering strong price stability.
Resistance Levels:
$113.22: Immediate level to watch; breaking this could signal bullish momentum.
$167, $228, and $429: Key breakout targets for bulls in the medium to long term.
A descending trendline, which previously defined a multi-year downtrend, shows early signs of reversal.
Technical Analysis: Bearish Momentum Dominates
RSI: At 29.29, QNT is in the oversold region, suggesting a potential bounce if buying pressure increases. However, RSI below 50 confirms prevailing bearish sentiment.
20-Period SMA: Currently trading below QNT’s price at $113.22, reinforcing short-term bearish pressure.
Lower Highs and Lower Lows: This pattern continues to dominate, requiring a breakout above $113.22 for trend reversal.
Volatility and Liquidations
Recent liquidation data from Coinglass highlights elevated volatility:
Long Liquidations: $107.47K, primarily on Binance ($76.42K) and Bybit ($30.74K).
Short Liquidations: Minimal at $1.01K.
This spike in long liquidations reflects the pressure on levered traders amid low prices.
Bullish vs. Bearish Scenarios
🔼 Bullish Outlook:
Oversold RSI signals potential short-term recovery.
Breaking above $113.22 could trigger bullish momentum toward $167 and higher targets.
🔽 Bearish Outlook:
Failure to hold $102.43 support could lead to further declines toward $95.
Sustained bearish trendline dominance could push prices lower, extending the downtrend.
While short-term bearish signals persist, Quant crypto’s bullish potential remains intact, with breakout targets as high as $429 if key resistance levels are breached. Traders should monitor $102.43 support and $113.22 resistance for cues on QNT’s next move.
