Quant (QNT) Price Breaks Above Significant Levels. What's Ahead?

The Quant(QNT) price witnessed solid buying, which led the token price to higher levels.

The Quant (QNT) price showed good buying, which pushed the token price to higher levels.

The intraday volume chart of SpotonChain for Quant crypto shows that the volume has crossed the $60.0M mark, indicating strong activity in the token. Furthermore, the token's trading volume increased by over 100% in the past 24 hours.

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The QNT price at the time of writing was trading at the $70.75 level, with the price showing a consistent rise along with the volume. This indicated a strong increase in demand for the token, which could lead to a difference in the QNT price prediction.

The market cap value of the Quant token stood at $854.252M, while its market cap dominance was 0.04%. The token's price volatility was also medium at 4.51%, indicating stability in the price moving forward.

The Quant crypto price sentiment was neutral, with the fear and greed index showing a value of 26, indicating fear among the token's investors as the price pushed to higher levels.

What Activity Does the Onchain Data Signify in the QNT Price?

An increase in the centralized and decentralized exchanges was observed in the past seven days, indicating a larger sum of money entering the token's ecosystem.

Furthermore, at the time of press, the Quant token had a total of 150.3M holders. Additionally, out of the total supply, 28.71% was held by the top 10 QNT holders. The token's price correlation with Bitcoin was 0.94. Also, in the past seven days, inflows to the token amounted to $1.52M.

The token's security score was an average of 77.27. According to CertiK Skynet, its global security ranking was #1004, which placed it in the BBB tier.

QNT Price Breaks Above Important Levels. What's Next?

The QNT price was trading at more than 50% down from its all-time high price, indicating a strong downtrend in the token price that has continued for the past five months.

Since the Quant price was in a strong downtrend for a long time, a falling wedge pattern was formed on the daily chart.

The token price broke out above the falling wedge pattern. The price breakout was also complemented by a strong surge in volume, indicating a reliable price breakout.

Let's Take a Closer Look at the Technical Indicators for Quant Token

The EMAs on the daily chart of the QNT token showed a bearish trend as the 50-day and 200-day EMAs were trading in a death cross. Also, at the time of press, the price was trading below the 200-day EMA.

QNT/USD Chart by TradingView

A bullish crossover was observed on the chart by the MACD and the signal line. However, the mentioned metrics were trading in a negative trajectory with the formation of bullish histograms.

The RSI showed a surge in bullish momentum as it advanced to the 60.5 level. It was followed by a breakout above the 14-day SMA, indicating optimism in price.

The QNT token price could find support at the $40.0 and $57.0 levels, while it may face resistance at the $81.0 and $116.0 levels.

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.