- Quant (QNT) is down 8.56% in 24 hours, but strong trading volume signals ongoing investor interest.
- Trading volume surged 57.01%, indicating continued market participation despite QNT’s price decline.
- RSI at 33.00 shows QNT is oversold, suggesting a rebound could be imminent if momentum shifts positively.
Quant (QNT) is currently trading at $80.35, reflecting a decrease of 8.56% in the last 24 hours. QNT is down by 17.84% over the past seven days. However, even with the dip in price, the cryptocurrency is still active, and a high trading volume shows that there is interest from its investors.
Source: CoinMarketCap
The trading volume is showing a strong bullish surge, up 57.01% and currently standing at $33.49 million. This surge in volume indicates that there has still been continued participation. despite the drop in price. High trading volume during a decline often indicates that investors believe the market could be poised for a recovery.
Quant Poised for Recovery if $75 Support Holds Steady
Crypto analyst Jonathan Carter highlighted that Quant is trading inside a well-defined parallel channel, having solid ascending support at the level of $75. Analysts are expecting that if the price rebounds from its current levels, it could rally towards $132 or even as high as $140 and $150. As long as QNT stays above the $75 support level, a rebound may be expected in the next few weeks.
Source: X
Investors seek a shift in momentum. If QNT remains above $75, a potential for a change of pace towards constructive momentum could happen. Analysts are optimistic that this support will allow for a bounce, and the market is closely watching if the coin can break through its present downtrend.
Also Read: HYPE Faces Massive Pressure: Can Rising Volume Spark a Reversal?
RSI and MACD Indicate Weak Momentum
The RSI is currently standing at 33.00, indicating that the coin is oversold. This suggests that a rebound is imminent unless there are other indicators that contradict this trend. The RSI had earlier reached a high of 43.85, showing recovery in the short term. But a move under 40 in the indicator indicates weak momentum and can signal that the bearish trend will persist.
The MACD indicator is also showing us a downward reflection. The MACD line is at -2.50, and the signal line is at -1.79. This indicates negative momentum is still in effect. Red bars in the histogram indicate a bearish market sentiment, and unless MACD switches to bullish, QNT is likely to suffer further losses in the short term.
Source: TradingView
Strong Community Sentiment Supports QNT’s Future
Despite bearish indicators pointing in a different direction, the sentiment within the community regarding Quant remains strongly positive. Community market sentiment data indicates that 84.00% of members are bullish on QNT, while 16.00% are bearish.
Source: CoinMarketCap
The extremely high level of optimism suggests that numerous investors are still optimistic for QNT’s prospects longer-term. The strong community backing could offer some cushion against prevailing technical signals.
Also Read: Chainlink Ecosystem Grows with MegaETH, LINK Eyes $22
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