Quant (QNT) Price Analysis: Crucial Support Level at $89
Quant (QNT) has exhibited bullish sentiment recently, supported by retail and institutional investors. However, several key indicators suggest potential challenges ahead.
Quant Price Chart: A Technical Crossroads
At press time, QNT traded at $89.21, down 1.33% in the last 24 hours. The price chart reveals QNT has broken below its demand zone and is now testing key support at $89. A failure to hold this level could trigger a drop toward $72.65. Conversely, a rebound could push QNT toward $101.8, facing significant resistance there. A pennant flag breakdown adds to the uncertainty.
Source: TradingView
QNT In/Out of the Money: Profit-Taking Pressure?
Currently, 61.65% of QNT holders are in profit. However, a concerning 33.59% of addresses are “Out of the Money,” facing resistance between $95.39 and $106.08. If these resistance levels are not overcome, profit-taking could lead to a price reversal.
Source: IntoTheBlock
Declining QNT Address Activity: Reduced Interest?
Address activity has declined, with new addresses down 27.05% and active addresses down 11.67% in the past week. This suggests reduced interest and may limit QNT’s upside potential.
Source: IntoTheBlock
Soaring NVT Ratio: A Warning Sign?
The Network Value to Transaction (NVT) ratio has reached an all-time high of 1123.47. This significant disconnect between network value and transaction volume suggests QNT might be overvalued, increasing the likelihood of a price correction.
Source: Santiment
Quant (QNT) Outlook: Navigating Uncertainty
Quant’s price action is at a critical juncture. While bullish sentiment persists, overcoming resistance at $95.39 and maintaining support at $89.21 is vital for sustaining its upward trajectory. Failure to do so could trigger a price correction. Investors should monitor these key levels closely.
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