$QNT BREAKS OUT — IS $85 NEXT? 🚀
Quant #QNT is showing a noticeable change in momentum after spending months trading inside a broader downtrend.
The key move came when QNT pushed above its descending resistance line and climbed to around $76, marking its highest level in roughly four months. At the time of the move, QNT was trading near $75, up about 13% in 24 hours.
So, what happens next?
The first important level to watch is $80. If buyers can push QNT above $80 and hold that area as support, the next potential zone could be around $85.
On the other hand, traders shouldn't ignore the downside levels. A daily close below $70 could weaken the breakout structure and potentially bring $64 back into focus.
There are also signs of increased market activity. Spot netflow has turned negative again, suggesting some QNT supply is moving away from exchanges. Meanwhile, Open Interest has increased, showing that more traders are entering derivative positions.
That combination can support momentum, but it also means volatility could increase.
For now, the structure remains constructive above $70.
Above $80 → $85 becomes the next area to watch.
Below $70 → $64 could come back into play.
The breakout is interesting, but QNT now needs to prove that the move above the old downtrend can hold.
#bullish #rally
Quant #QNT is showing a noticeable change in momentum after spending months trading inside a broader downtrend.
The key move came when QNT pushed above its descending resistance line and climbed to around $76, marking its highest level in roughly four months. At the time of the move, QNT was trading near $75, up about 13% in 24 hours.
So, what happens next?
The first important level to watch is $80. If buyers can push QNT above $80 and hold that area as support, the next potential zone could be around $85.
On the other hand, traders shouldn't ignore the downside levels. A daily close below $70 could weaken the breakout structure and potentially bring $64 back into focus.
There are also signs of increased market activity. Spot netflow has turned negative again, suggesting some QNT supply is moving away from exchanges. Meanwhile, Open Interest has increased, showing that more traders are entering derivative positions.
That combination can support momentum, but it also means volatility could increase.
For now, the structure remains constructive above $70.
Above $80 → $85 becomes the next area to watch.
Below $70 → $64 could come back into play.
The breakout is interesting, but QNT now needs to prove that the move above the old downtrend can hold.
#bullish #rally
