Quant Crypto Targets $429 As Bulls Eye Breakout Despite Recent Dip

Quant (QNT) crypto was trading at $101.37 with a 24-hour trading volume of $31,906,646, down 8.18% on the day and 7.72% over the week.

The circulating supply of the QNT stands at 15 million QNT and the total market cap is $1,480,708,940.

However, sentiment in the market is still bullish, as analyst Market Prophit explains. Current bearish momentum is unlikely to derail the asset and analysts remain confident that it is headed for a potential breakout.

The positive signals have been two historical V-shaped patterns in May 2022 and December 2024. These patterns are steep declines, followed by quick recoveries, suggesting the possibility of accumulation at lower levels.

Key Support and Resistance Levels

Technical analysis identifies critical levels for QNT price action. A descending black trendline that had previously defined a multi-year downtrend shows signs of reversal. Price attempts to break above it.

Analyst Alex Clay remarked,

“Time to break through the Resistance Trendline & then supply zone.”

The first target attained on the downside is $167.50 which is an area of multiple prior tests. More opposition levels are at 228.50, 291.50, and 429.50.

On the flip side, the $95 Tillerson support zone has been depicted several times by a blue rectangular box. It has proven to offer support to price declines.

Technical Indicators Reflect Bearish Momentum

The 20-period SMA is identified on the 4-hour chart for QNT crypto trading below the price at $113.22. Immediate support levels are predictive of the price in Bollinger Bands at $102.43.

RSI is at 29.29, in oversold condition, which may see buyers return and bounce short term. However, the RSIs sustained position below 50 points to prevailing bearish sentiment.

Lower highs and lower lows confirm the dominance of the trendline that is bearish. Any sign of trend reversal requires a move above $113.22, and a drop below $102.43 may spark more losses.

Increased Liquidations and VolatilityFor Quant Crypto

According to Coinglass data, long liquidated data stands at $107.47K. Short liquidated data stands at just $1.01K as of January 8th, 2025.

Long positions were liquidated most at Binance ($76.42K), next at Bybit ($30.74K) and CoinEx ($317.64).

The spike in liquidation activity is a sign of volatile times, as levered long traders see margin calls amid a low price.

However, analysts suggest looking out for key levels for Quant crypto and reversal or extended decline trends in the liquidation prices.

While the recent dip gives a mixed reading, the bulls remain intact as they remain glued to breakout targets including $429 if the uptrend continues.