Quant [QNT] has been a standout in the market, attracting bullish sentiment from both retail and smart money investors. Despite this positive outlook, the token is encountering key resistance levels and a decline in address activity, signaling potential challenges ahead. Currently trading at $89.21, a 1.33% decrease over the past 24 hours, the market is closely monitoring QNT’s next move.
Chart analysis reveals a critical juncture for Quant, with the asset testing key support at $89. If this support level falters, a drop towards $72.65 could be in the cards. On the flip side, a rebound from this zone could propel QNT towards $101.8, where significant resistance awaits. Investors are advised to stay vigilant for a potential bearish trend if support levels are breached.
The “In/Out of the Money” chart shows that while 61.65% of QNT holders are profitable, 33.59% of addresses are “Out of the Money,” facing resistance between $95.39 and $106.08. Overcoming these price barriers poses a challenge for QNT, as failure to do so may trigger a market reversal as holders seek to secure profits.
Address activity for QNT has shown a decline, with new addresses decreasing by 27.05% and active addresses dropping by 11.67% in the past week. This diminishing interest suggests a limitation on QNT’s potential to surge higher, as fresh capital is not flowing into the token. With reduced participation from new and active addresses, QNT may encounter a tougher road to recovery.
The Network Value to Transaction (NVT) ratio for QNT has surged to an all-time high of 1123.47, indicating a disconnect between the token’s network value and transaction volume. A rising NVT ratio typically signifies an overvalued market, with prices increasing without a corresponding uptick in transactions. This surge raises concerns that QNT may be overbought, potentially leading to a correction.
In conclusion, the path ahead for Quant appears challenging, with resistance levels, declining address activity, and an elevated NVT ratio pointing towards potential hurdles. While the sentiment remains predominantly bullish, QNT must maintain support at $89.21 and breach resistance at $95.39 to sustain its upward trajectory. Failure to do so could pave the way for a price correction in the near future. a different perspective on the topic:
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