QNT Reaches $147, Riding a 151% Monthly Surge and Forming a Bullish Pattern
Quant (QNT) hit a nine-month high of $147, propelled by a significant altcoin market rally. The global cryptocurrency market cap increased by 2%, with trading volumes rising 24% in the last 24 hours. Other major cryptocurrencies also posted notable milestones, such as XRP reaching a seven-year high, ONDO achieving its all-time high, ADA hitting a two-year peak, and AVAX climbing to an eight-month high.
Bullish Ascending Channel Pattern
QNT’s price movement has formed a bullish ascending channel pattern, a technical indicator marked by consistently higher highs and higher lows. The pattern features two upward-sloping trendlines, with the upper line acting as resistance and the lower line as support. Analysts view this as a positive sign for continued upward momentum. 
What’s Next for QNT?
- Resistance Levels: Key resistance points are at $151 and $332.5.
- Support Levels: Critical support zones are at $96.6 and $59.9.
QNT’s impressive monthly gain of 151% and weekly rise of 47% have drawn attention, even as the token remains 67% below its all-time high (ATH).
Caution Amid Bullish Momentum
The Relative Strength Index (RSI) for QNT has reached 84, signaling overbought conditions. An RSI above 70 typically indicates that an asset may be due for a price correction.
Altcoin Rally Boosts Market Sentiment
The ongoing altcoin bull run has reinvigorated interest in the cryptocurrency space, with QNT standing out as a top performer. However, traders should remain cautious given the elevated RSI and the market’s inherent volatility. As QNT continues its upward trajectory, investors are closely watching its ability to sustain momentum and overcome resistance levels in the days ahead.
