Quant: $114.4 hurdle could give bears more leverage; here’s where they can gain

• The $114.4 hurdle could springiness QNT bears much leverage.
• A interruption supra the 100-period EMA of $116.1 would invalidate the bias.
• Supply held by apical addresses was unchanged contempt an summation successful the whale transaction count.

Quant’s (QNT) terms enactment formed a double-bottom signifier successful caller weeks. This could person acceptable QNT up for an uptrend, but a bearish bid artifact astatine $114.4 persisted.

At property time, QNT was trading astatine $113.2 and flashing red, suggesting that the bears whitethorn already person a tiny clasp connected the market.

At property time, method indicators suggested that a correction could beryllium apt if the bears summation much influence.

---

Read Quant’s (QNT) Price Prediction 2023-24

---

The bearish bid artifact astatine $114.4: volition the bears summation much influence, oregon tin the bulls neutralize them?

QNT’s precocious December downtrend recovered coagulated enactment astatine $104.4. The consequent rally deed a roadblock astatine $116.8 earlier different correction followed, lone to bounce backmost from $104.4 again.

The terms enactment formed a treble bottommost pattern, a emblematic awesome of an uptrend erstwhile an plus breaks supra the neckline. In QNT’s case, the neckline astatine $116.8 was not crossed arsenic the terms triggered a downtrend conscionable beneath the neckline astatine the bearish bid artifact astatine $114.4.

The RSI, OBV, and MFI showed downward trends, indicating a weakening buying unit and trading volume, reinforcing the content that a organisation had taken place. This could springiness much leverage to the bears and propulsion QNT down.

QNT’s terms could autumn to $112.3, the 26-period EMA of 110.6, oregon contiguous enactment astir $109.4. These tin service arsenic targets for short-selling.

Alternatively, bulls could get a boost if BTC is bullish. In specified a case, the bulls would induce a bearish bid breaker and flooded the obstacle astatine $114.4. However, the bulls could lone summation leverage if QNT breaks supra the neckline of the treble bottommost astatine $116.8.

---

Are your holdings flashing greenish oregon red? Check with QNT Profit Calculator 

---

QNT saw an summation successful the fig of addresses holding 0-1000 coins, but the whale transaction number induced a terms rally

According to Santiment data, QNT saw an summation successful addresses holding 0-1000 coins since mid-December past year. However, those having much than 1000 coins gave up immoderate of their holdings.

Although the supra inclination whitethorn bespeak retail capitalist assurance successful the network, the QNT terms lone roseate astatine the extremity of the twelvemonth aft a crisp summation successful the whale transaction count. After that, regular progressive addresses roseate steadily, and the terms accrued too. 

QNT besides precocious experienced a fistful of Whale transactions, which whitethorn person straight influenced the caller terms rally. As of property time, adjacent more, Whale transaction counts were recorded.

However, the terms of QNT has dropped somewhat contempt the accrued fig of Whale transactions arsenic of property time, which could beryllium related to a somewhat bearish BTC.

In addition, the proviso held by apical addresses has remained comparatively unchanged since precocious December 2022. Although this could undermine a larger upside move, investors should way BTC movements earlier taking enactment connected QNT.