NewsletterWas 38.2% Retracement Enough To Resume QNT Recovery?
During the previous retracement, which took place around July’s fourth week, the Quant (QNT) price retraced 38.2% and bolstered the recovery rally to reach the $132.84 mark. Furthermore, the recent correction tumbled the prices by the same 38.2% and showed some recovery signs at this support. However, the buyers need better confirmation to continue the prevailing bull run.
Key points from QNT analysis:
- The QNT price is resonating in a no-trading zone.
- The buyers failed to sustain prices above the 200-day EMA
- The intraday trading volume in the Quant is $34. Million, indicating a 27.5% loss
Source-Tradingview
The QNT/USDT pair recovery initiated from the $41.16 surged the prices 235.6% higher to hit the $132.84 mark. During this run-up, the altcoin showed several pullbacks, replenishing the bullish momentum for further gains.
Similarly, amid the recent market correction, the QNT price turned down from the $132.8 resistance and triggered another bearish pullback. This retracement tumbled the market value by 26.6% and plugged to the combined support of 0.382 Fibonacci retracement level and the $100.
Furthermore, the QNT price rose for the next two days and registered a 13% jump. However, the buyers struggle to surpass the immediate resistance of $112. As a result, the altcoin is down 3.88% today, trading at $106.7.
Thus, the price range between $112 and $106.7 can be considered a no-trading zone. A breakout from either side will give a better confirmation for respective direction moves.
Therefore, if the price breaches the $112 resistance, it would indicate buyers are ready to resume the price recovery and allow them to challenge the prior swing high of $133.7.
On a contrary note, if the coin holders lose $106.7 support, it would mean there’s more to a price correction, which may target the 50% retracement level at $87.
Technical Indicator
EMA’s: the 100-and-200-day EMAs accentuate the range as they are moving close to the $106.7 and $112 levels, respectively. Thus, these EMAs give additional confirmation for a potential breakout.
RSI indicator: The daily-RSI slope nosedive below the neutral line indicates a switch in traders’ sentiment. Furthermore, this slope showing sustainability below the midline supports the correction theory
- Resistance levels- $96 and $110
- Support levels- $74 and $87.6
- Pi Coin Set for Major Adoption as Pi Network Officially Registers Under EU MiCA
- XRP Price Risks Falling Below $2 as Sentiment Dips to “Anxiety” Stage, Analyst Predicts
- 10 Best Crypto RWA Tokenization Platforms in 2025
- Michael Saylor Calls Strategy “Indestructible,” Says It Can Survive 80–90% Bitcoin Crash
- Crypto Market Faces New Macro Jitters Ahead of Nvidia Earnings, FOMC Minutes, NFP Jobs Data
- Why Are CRO, STRK & MYX Prices Up Today?
- Solana Price Prediction – Will the ETF Wave End SOL’s Multi-Week Downtrend?
- Ethereum Price Forms Rare Pattern as Tom Lee Makes Bold Prediction
- Is Dogecoin Price Set for a Recovery as Grayscale ETF Speculation Intensifies?
- Will MOODENG Reach $0.1 and MEW Hit $0.002 After Robinhood Listing?
- What’s Next for Cardano Price After Breaking Below Key Support Level?
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.
Premium Partners
