- The double-bottom formation signals a potential bullish reversal for Quant.
- Rising network activity and reduced exchange reserves reinforce optimism for QNT’s price recovery.
Quant [QNT] is showing encouraging signs of recovery, with its price holding steady near key support levels despite a recent dip in momentum.
At press time, QNT was trading at $104.17, down by 1.05%, in 24 hours. The token was forming a double-bottom pattern at $102, signaling potential bullish momentum.
However, the critical challenge lies in breaking through the $121.44 resistance level to solidify a bullish trend.
Price movement and double-bottom formation
The charts reveaedl a promising double-bottom formation at $102, indicating potential bullish momentum. This pattern often suggests a reversal in a downtrend, and Quant seems to be following this trajectory.
Breaking above the $121.44 resistance would confirm this reversal and open the path toward the next significant resistance level at $145.12.
However, failing to hold $102 could lead to prolonged consolidation, delaying any substantial price movement. Consequently, the $102 support zone is critical for the token’s short-term future.
Source: TradingView
The Parabolic SAR is already showing dots below the candlesticks, signaling that upward momentum is building. This indicator aligns with the potential for further price increases, particularly if QNT breaks resistance levels.
Additionally, the Relative Strength Index (RSI) stands at 46.94, reflecting subdued buying interest. However, this position leaves room for growth, and crossing the 50 level would confirm strengthening buyer confidence.
Together, these indicators suggest a bullish trend is developing.
Source: TradingView
Network activity on the rise
Network activity was rising, reflecting increased user interest and participation. Over the past seven days, active addresses grew by 38.28%, while new addresses surged by 29.50%.
This increase indicates greater engagement from both new and existing users, often translating to stronger price action. Consequently, growing participation reinforces optimism for QNT’s near-term potential.
Source: IntoTheBlock
Diminishing selling pressure for Quant
The outflow transaction count surged by 43.33% over the past week, signaling reduced selling activity and growing accumulation.
This trend aligns with the increasing number of investors choosing to hold QNT rather than sell. Consequently, such behavior often precedes bullish momentum, as demand outweighs supply in the market.
Source: IntoTheBlock
Exchange reserve analysis
The exchange reserve for QNT decreased by 0.24% in the last 24 hours, dropping to 1.3927M QNT. This decline reflects increased withdrawals as investors move their tokens off exchanges for long-term holding.
Therefore, the falling reserve signals confidence in QNT’s future potential. Additionally, lower reserves often indicate reduced sell pressure, supporting the bullish case.
Source: CryptoQuant
Read Quant’s [QNT] Price Prediction 2024–2025
QNT was showing promising signs of a bullish breakout, supported by a double-bottom formation, rising address activity, and reduced exchange reserves. If the token successfully reclaims $121.44, it could target $145.12 and beyond.
However, sustained upward momentum depends on maintaining network participation and overcoming resistance levels.
While QNT’s future looks optimistic, the coming days will be crucial in determining its direction.
