Quant (QNT) is currently trading at $72.60 and recorded a 2.27% drop in the last 24 hours. The token failed to generate new purchasing attention throughout the session. The trading volume also declined as it fell by 16.45% to $10.99 million.
Over the last week, QNT has decreased by 4.85%. The pullback indicates the absence of a directional upswing in the short term. As the market remains quiet and no clear direction has emerged, traders are holding on.
Source: CoinMarketCap
Quant Holds Demand Zone as Buyers Defend Support
Analyst CryptoPulse highlighted that QNT is trading within a powerful and clear daily demand zone. Buyers have intervened on this level on several occasions and have served to diminish the selling pressure and allow the price to stabilize. This action indicates that the region is still relevant in terms of short-term assistance.
If this zone holds, the downside risk might remain contained. Analysts are monitoring recovery levels of $84, $90, and $105 for a potential resurgence of buying interest. A clear break below the price of $67.8 would nullify this formation and reflect a change in the bearish perspective.
Source: X
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Additionally, another analyst, Jonathan Carter, mentioned a symmetrical triangle that was developing on the three-day chart. Quant is trading close to the lower limit of that structure, where the price action is tight. Carter’s explanation of this zone is that the strategic support is still present because buyers will always intervene on the pullbacks and reduce downside movements.
Source: X
Provided that this support still exists, Analysts can see prospects of a recovery movement. He pointed to short-term resistance at levels of $80 and $97. More positive momentum could lead to higher levels at $123, $143, and $165.
RSI and MACD Signal Weak Momentum for QNT
The Relative Strength Index (RSI) is at 39.89 with its signal line at 39.38. These values put QNT below the neutral values but above the oversold territory. The MACD indicates the absence of bullish strength. The MACD line is at -3.16, and the signal line is at -3.02. The value of the histogram, -0.14, indicates a bearish trend but not increasing any faster.
Source: TradingView
According to CoinGlass data, the trading volume has declined by 3.53% to $26.17 million. However, the open interest increased by 0.38% to $14.84 million. The Quant OI-weighted financing rate stands at 0.0075%, which indicates equal leverage both on long-term and short-term positions.
Source: CoinGlass
However, Quant is currently trading at a pivotal juncture. Quant is holding positions in support zones, but it lacks strong and confident momentum. The directional change will be based on the effectiveness of buyers in defending current levels or sellers pushing below important support.
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