Quant (QNT) Targets $128 Amid Bullish Technical Signals
### Key Takeaways
– The price of Quant (QNT) is showing positive signals and could rise to $128.
– A W-pattern on the four-hour chart suggests a potential upward trend.
– Technical indicators like RSI and MACD support the bullish outlook.
– Resistance at $119 could be a critical level.
– A decline in the MVRV ratio, however, might trigger selling pressure.
###
Quant (QNT): Current Market Trends
Quant (QNT) has recorded a price increase of over 10% in the past 24 hours and is currently trading at $117. Trading volume surged by 53% to $30 million, while the market capitalization climbed to $1.41 billion. Despite a rather pessimistic sentiment among retail investors, “smart money” remains optimistic. Experts attribute this to positive technical signals visible on short-term charts.
###
Technical Analysis: W-Pattern and Resistance Levels
On the four-hour chart, QNT has completed a W-pattern, a common signal for an upcoming upward trend. The price has crossed the “neckline” of this pattern with strong volume, indicating bullish momentum. The next resistance level is at $119. If this level is broken, the price could climb to $128, a level last seen in mid-December.
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The Relative Strength Index (RSI) is currently at 62, indicating stronger buying activity than selling. Additionally, the RSI shows an upward trend, highlighting increasing interest from buyers. The Moving Average Convergence Divergence (MACD) has also given a bullish signal by forming a positive crossover. The declining bars in the MACD histogram suggest that buyers are re-entering the market.
###
MVRV Ratio: Risks and Opportunities
Quant’s Market Value to Realized Value (MVRV) ratio has dropped from 2.81 to 1.92 over the past month. This indicates that fewer wallets are operating at a profit. The percentage of profitable wallets has fallen from 85% to 39%. A lower MVRV ratio can suggest that the token is not overvalued but also carries the risk of investors selling to minimize losses if prices drop further. This could lead to increased selling pressure.
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Liquidation Level at $120: A Potential Turning Point
According to the liquidation heatmap, there is a cluster of positions around $120 that could be liquidated. If the price reaches this level, it could trigger a “short squeeze,” where short positions are closed, leading to additional buying and pushing the price higher.
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Our Assessment
Quant (QNT) is currently showing strong technical signals that suggest a continuation of the upward trend. Resistance at $119 will play a key role. If this level is broken, a rise to $128 appears achievable. However, the declining MVRV ratio and associated risks of selling pressure should not be overlooked. For traders and investors, closely monitoring the resistance and liquidation levels will be crucial.
### Sources
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