Quant (QNT) is testing a crucial support level near $68, which could determine its next price move. Market analysis shows the token briefly fell below this level before rebounding, forming a potential Inverse Head and Shoulders pattern on shorter timeframes. However, momentum indicators like the RSI and MACD continue to signal bearish pressure, suggesting the higher timeframe trend remains weak.
Quant (QNT) is testing a critical support area near $68 after falling through a key price level. The token’s price action at this zone is seen as pivotal for determining its future direction.
At the time of reporting, QNT was trading around $68.78 according to CoinMarketCap data. The cryptocurrency’s 24-hour trading volume was approximately $24.2 million, with a market capitalization of $827.24 million.
Analyst CryptoPulse noted on X that Quant has entered a significant decision zone. “Quant has entered a significant decision zone that could determine the next move,” the analyst stated.
On shorter timeframes, a potential Inverse Head and Shoulders pattern is forming. A breakout above the pattern’s resistance could signal a move toward the $91.95 price target.
However, higher timeframe indicators remain weak. The Relative Strength Index (RSI) is at 40.4, below the neutral 50 level.
Price action also sits below multiple key moving averages on the weekly chart. The closest resistance is the 20-week average near $80.4.
The MACD indicator confirms the bearish sentiment. The MACD line is below its signal line, with a negative histogram reading.
Quant now faces conflicting signals between short-term recovery patterns and longer-term bearish momentum. The token’s behavior around the $68 support level will be closely watched by investors.
