Price Action of Quant (QNT)

After Quant broke out of the sideways channel, the price hit a high of $112, but QNT is now trading in a descending channel.

• Price Movement: The number of transactions is starting to rise despite the price generally declining, while both the crowd and smart money are bearish.

Quant (QNT) exhibited active price action post a breakout from a range-bound area, surging to $112. Currently, QNT is in a downtrend channel, showing signs of reversal with a gain of over 6% in the last 24 hours, trading at $82.4.

The MACD readings at -1.5 and -2.2 on the histogram signal bearish momentum, advising caution for traders. If QNT continues its uptrend and breaks through channel resistance, it could test the next resistance level around $90. Conversely, failure to gather momentum could see a retest of the channel’s bottom at $74.

This trend resembles prior consolidations and breakouts, suggesting that QNT is gearing up for substantial price movements, either continuing its recovery or further declining based on market sentiment and transaction volume.

Number of Transactions

There has been an increase in network transactions, peaking at 1.64k while the price is down to $82.37. This decoupling may reflect increasing investor demand or activity despite a falling price, indicating potential underlying strength or speculative excess.

An increase in transactions during a price decline could lead to price stabilization or recovery if it demonstrates accumulation by investors expecting value appreciation. However, if sellers drive the increased trading activity, it may reinforce bearish pressure on price.

Thus, assessing transaction sources is crucial in efficiently predicting price action.

QNT Market Sentiment

Market sentiment for Quant shows mild bearishness from both the general crowd and informed investors. At press time, crowd sentiment was -0.07, indicating slight bearishness, while smart money sentiment was more negative at -0.16, illustrating caution among informed investors.

These sentiment indicators have the potential to thwart QNT’s bullish trend and possibly stabilize or slightly decrease its price unless sentiment improves. Should optimism return, reversing these negative indicators, a QNT price rally could occur, driven by increased long positions from both crowd and smart money investors.