Key takeaways
- Quant (QNT) continues its upward move toward $80, supported by increasing demand from both whales and retail traders.
- A sustained breakout above the $80 resistance could open the path for a push toward $100.
Quant (QNT) pushed higher on Thursday, testing resistance around the $80 level and hinting at a potential breakout from a long-term descending trendline. The recent advance reflects improving market sentiment and renewed buying interest across different investor groups.
Rising activity in leveraged markets and stronger inflows from large wallets bolster the bullish case. A clear daily close above $80 would increase the likelihood of a sustained rally and target extensions closer to $100.
Whale and retail demand fuel Quant’s steady recovery
Quant’s short-term recovery is underpinned by growing demand from retail participants and larger holders. Leverage-based indicators and order-size metrics point to more aggressive positioning by big traders, while cumulative buy-volume outpacing sell-volume supports a positive bias.
Data from CoinGlass shows that QNT futures Open Interest rose to $17.61 million, up from $16.96 million at the start of May. This increase, while still well below last year’s peak, signals renewed investor engagement in QNT futures markets.
The ongoing rebuilding of futures interest, combined with on-chain signals of larger executed orders, suggests the market is once again warming to QNT and could sustain further gains if demand persists.
Technical outlook: Will Quant reach $100?
On the 4-hour QNT/USD chart, momentum is bullish: QNT has gained roughly 7% over the past 24 hours and trades near $78, slightly above the 200-day Exponential Moving Average (EMA) around $77.52.
Momentum indicators support the upside bias. The MACD histogram is positive, with the MACD line above its signal line and both situated above zero, indicating strengthening bullish momentum. The Relative Strength Index (RSI) sits near 64, reflecting firm buying pressure while approaching overbought levels.
A decisive daily close above the descending trendline around $77.89 would confirm a breakout from the triangular consolidation visible on higher timeframes. Such a breakout could first target the recent swing high near $88.30 and then extend toward the 127.2% Fibonacci extension near $101.14 if momentum continues.
On the downside, initial support sits at the 50-day EMA near $72.03. A deeper correction would likely find buyers around the 50% retracement level near $68.79, with additional support in the former rising trendline area near $67.86 and the 38.2% retracement around $66.86.
In summary, Quant’s current price action and on-chain signals point to renewed buyer interest. A clear breakout above $80 would strengthen the case for higher targets, while failed breakouts or broader market weakness could expose QNT to the support levels identified above.