Quant (QNT) Leads Gains in Top 100 Cryptocurrencies

QNT cryptocurrency beats expectations with a bounce from key support and increasing trading volume. We analyze its bullish potential.

Quant (QNT) cryptocurrency closed this Saturday with a gain of 7.99%, reaching a price of $85.1 and positioning itself as the best-performing cryptocurrency in the CoinMarketCap top 100. This rebound came after a bounce from the key support of $75.5, supported by a trading volume above the average of the last 25 days. Is QNT ready for a bullish push?

The price of QNT found strong support at $75.5, a level that it had already successfully tested on February 3. / TradingView

Bounce from key supports

The price of QNT found strong support at $75.5, a level that it had already successfully tested on February 3. The formation of an engulfing candle near an oversold zone suggests a possible bullish bounce in the short term.

However, QNT remains range-bound since Dec. 24, with a high of $121 and a low of $75.5. Despite the recent rally, the cryptocurrency is still trading below the 200-period exponential moving average (EMA 200), located at $94.8, indicating a long-term bearish sentiment.

Volume and Capital Flows

QNT trading volume slightly exceeded the 25-day average, suggesting growing interest from buyers. Additionally, the positive net capital flow in the spot market reached $208.59 million in the past 24 hours.

On the other hand, open interest in QNT futures increased by 19.97% in the past 24 hours, reaching $12.49 million. Although this is the highest level in the past five days, it is still 60% below the high recorded in December 2024 ($36.16 million).

Token withdrawals from exchanges

Since December 2024, the balance of QNT on centralized exchanges fell from 1.08 million to 939,000 tokens, indicating that investors are withdrawing their funds to store them in self-custody wallets. This trend suggests long-term accumulation and could support a bullish move in the future.

Quant: The missing link of blockchain interoperability

Quant stands out for its Overledger technology, designed to connect different blockchains and enable interoperability between them. Recently, the project announced a collaboration with Oracle to boost the tokenization of digital assets and improve interoperability in the digital economy.

With a market cap of $1.01 billion and over 152,350 holders, QNT is consolidating itself as one of the most promising cryptocurrencies in the blockchain ecosystem.

What's next for QNT?

To confirm bullish momentum, QNT should break above the dynamic resistance of the 200 EMA at $94.8. If successful, it could aim towards the fixed resistance at $121. However, investors should keep an eye on market movements and technical indicators as QNT is still in an oversold zone.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and involve risk. Please do your research before investing.