Quant (QNT) Reaches 3-Month Peak, Yet Consider Bearish Signal as a Potential Risk for Traders

Quant (QNT) Reaches 3-Month Peak, Yet Consider Bearish Signal as a Potential Risk for Traders

Quant (QNT) Experiences Significant Price Surge With Mixed Market Sentiment

In the past 24 hours, the digital asset Quant (QNT) has witnessed a robust upturn, soaring from a local low of $93 to reach a three-month high of $108, according to data from Coinalyze. At the time of writing, QNT was trading at $106, marking a 10.65% increase during the same period, with a dramatic surge in trading volume amounting to $71 million in total.

This notable increase in volume has been accompanied by a spike in both buying and selling activity, as indicated by Coinalyze. Specifically, buyers accumulated 27K QNT tokens, while sellers offloaded 26K QNT, suggesting strong engagement within the market.

Meanwhile, CoinGlass data reveals an increase of 41% in Quant's Open Interest, reaching $22 million in the Futures market. This surge in activity suggests that investors are making strategic moves, whether long or short. However, the Futures market shows a strong bearish sentiment, as Quant's Funding Rate (FR) has plummeted sharply into negative territory, according to Messari.

This persistent bearish sentiment among futures traders is further underscored by the strong selling volume in the Futures market, despite a clear decline in overall volume. While sell volume is declining, it remains higher than buy volume, with 6K sell orders surpassing 3K buy orders.

In the spot market, the situation is somewhat comparable. Despite the rise in prices, sellers have offloaded $1.1 million worth of QNT, signaling significant profit-taking by investors who had been underwater since February. The trend of sellers cashing out raises questions about Quant's potential future trajectory.

Technical analysis offers a mixed forecast for QNT. While the MACD and RSI bullish crossovers confirm strong upward momentum with buyers firmly controlling the market, the broader crypto market sentiment continues to be cautious. Some analysts warn of a possible peak in the current bull run and a potential correction, thereby introducing risks of volatility and price corrections for QNT.

Even with the bullish short-term trend, QNT's long-term outlook remains optimistic, with forecasts pointing to continued growth towards $200 by 2028 and beyond. Medium-term predictions for 2025 suggest that QNT could potentially reach significant gains, depending on market conditions. Some of these forecasts project highs around $130 to $200, while more specific predictions predict QNT reaching about $100 by mid-2025, representing impressive growth potential.

Overall, Quant's fundamentals and technical setup remain strong for further growth, provided investors remain vigilant against short-term pullbacks and market corrections. Crypto enthusiasts and investors should carefully monitor market conditions while keeping a close eye on the ongoing surge in QNT's price action.

1. The digital asset Quant (QNT) has seen a significant price surge in the past 24 hours, reaching a three-month high of $108, and is currently trading at $106 on various exchanges.
2. The increased trading volume of QNT, amounting to $71 million, has been accompanied by a rise in both buying and selling activity, with 27K QNT tokens accumulated by buyers and 26K QNT tokens sold by sellers.
3. In the Futures market, there's a notable increase in Open Interest of Quant, reaching $22 million, and a sharp decline in the Funding Rate, indicating a strong bearish sentiment among futures traders.
4. Despite the short-term bullish trend, sellers have offloaded around $1.1 million worth of QNT in the spot market, raising questions about Quant's potential future trajectory.
5. Technical analysis presents mixed forecasts for QNT, with some analysts predicting a possible peak and potential correction, while the long-term outlook remains optimistic, with forecasts pointing to continued growth towards $200 by 2028 and beyond.

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