Quant (QNT) Shows Signs of a Major Breakout, Targeting a 77% Rally

Quant (QNT) has recently gained attention for its price movement and rising market interest. Despite some volatility, the altcoin has surged by 8.15% in the past week

Altcoin Surges with Potential for 77% Rally as Market Flush-Out Signals Opportunity for Traders

Recent market conditions have raised interest in Quant, especially after a brief market flush-out, which allowed savvy investors to purchase the asset at a discounted price. With a bullish triangle pattern forming on QNT’s daily chart, there is increasing optimism that the asset could break out and see a price increase of up to 77%.

What is a Market Flush-Out?

A market flush-out occurs when prices drop sharply, breaching support or resistance levels and triggering the liquidation of stop orders. This brief drop creates an opportunity for investors to accumulate assets at a lower price before the price starts moving in the initial direction.

In the case of QNT, this pattern recently unfolded as the asset briefly dipped below its support level. While some traders saw this as a negative signal, others view it as an opportunity to buy into QNT at a more attractive price point before the price rebounds. The key level to monitor is around $96.9 — if QNT can reclaim this level and continue its upward trajectory, the coin could break out of its triangle pattern and start a strong rally.

Active Market Participation Boosts QNT Outlook

In addition to favorable technical patterns, growing market participation is also fueling optimism for QNT. Data from crypto analytics firm IntoTheBlock shows a 2.02% increase in active addresses trading QNT over the past week. Notably, 897 unique addresses traded QNT in just the last 24 hours.

This surge in active traders reflects growing confidence in QNT’s potential for higher prices. Moreover, around $280,000 worth of QNT was purchased in the past 48 hours, further suggesting that market participants are positioning themselves for a potential breakout.

The increasing number of active addresses and purchasing activity reflects heightened interest from traders, which could help drive the asset higher.

Whale Activity Points to Long-Term Confidence in QNT

Interest from large holders, or whales, has also been rising, contributing to QNT’s recent upward movement. According to data from CryptoQuant, whale activity spiked with $1.29 million worth of QNT traded in just a short period.

Whale activity is often seen as a strong indicator of market confidence, and this large-scale trading suggests that these investors expect QNT’s price to rise significantly in the near future.

Whales typically control a large portion of an asset’s supply, so their actions can significantly influence the price. Their growing involvement with QNT could be a key signal that the coin is preparing for a major move.

QNT’s Path to a 77% Rally

If QNT successfully reclaims the critical support level of $96.9 and continues to exhibit bullish behavior, it could push through its current resistance levels and set a new high. According to technical analysis, QNT has the potential to reach a target of $171.7, which would indicate a 77.45% rally from its current price.

Conclusion: Is QNT Ready for a Breakout?

Multiple signs are converging to suggest that Quant (QNT) is on the cusp of a major breakout. With a bullish chart pattern, increasing market participation, and growing whale interest, QNT has strong momentum behind it. If the coin can reclaim support and continue its upward trend, a 77% rally is on the horizon.

As always, cryptocurrency investments come with risks, but for traders watching these developments closely, QNT could present a solid opportunity in the coming weeks. Keep an eye on key technical levels, and stay updated on the growing interest in QNT to determine the right time to act.