Can The Fast-Recovering Quant(QNT) Price Surpass The $130 Mark?
A V-shaped reversal from $96.7 support triggers a minor relief rally in Quant price. This price rally aligned with a significant volume increase, indicating the buyers are committed to reaching higher prices. However, a cluster of EMAs defending a near resistance of $130 keep the prices under correction threat.
Key points:
- The Quant price offers a decisive breakout from the $206 resistance
- A Quant price may give a bearish retest to 100-and-200-day EMA to replenish the selling momentum.
- The intraday trading volume in the Quant is $142 Million, indicating a 290% gain
Source-Tradingview
Over the last five months, while the overall crypto market was struggling through a series of high-interest rate hikes from the US Fed, the Quant price outperformed the majority of major crypto coins with a sustained uptrend.
Furthermore, the bullish rally hit a 10-month high of $226 before triggering a correction phase. Amid the recent bloodbath in the crypto market due to the FTX crypto exchange crash, the Quant price extended its pullback to $96.7.
As a result, the retracement phase registered a 57.5% loss since last month. However, with the ongoing relief rally in the crypto market, the altcoin witnessed a sharp recovery of 26.5%. Furthermore, the bullish recovery gave a massive breakout from the immediate resistance of $108.8.
This resistance breakout could offer a suitable launchpad for buyers to bolster the recovery rally higher. With sustained buying, the altcoin should rise 6.5% higher to challenge the $130 resistance. However, the $130 mark would be a crucial barrier for buyers to overcome, as it has a high possibility of resuming the prevailing downtrend.
Technical Indicator
MACD: the reducing gap between the MACD and signal line below the neutral zone suggests a weakening of bearish momentum. Moreover, a bullish crossover between these EMAs could further strengthen a bullish recovery.
EMAs: the rising prices may soon retest the recently breached 100-and-200-day EMAs located at $130 resistance. These EMAs offer an additional barrier against the Quant buyers and support the aforementioned bearish thesis.
Quant Coin Intraday Price Levels
- Spot price: $122.3
- Trend: Bullish
- Volatility: Low
- Resistance level- $130 and $0.1
- Support level- $108 and $145.5
- 99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction
- Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement
- ‘Every Crypto ETF You Can Imagine’: Expert Predicts Flurry of Filings After REX-Osprey’s 21 Applications
- Robinhood Lists Strategy’s Bitcoin-Backed Stocks, Boosting Saylor’s BTC Credit Model
- Bitcoin ETFs See 2025 Record Weekly Inflows of $3.2B as BTC Eyes New ATH
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
