Quant's $96.80 Breakout: Bulls vs Bears in Tight Race

Quant [QNT] is currently testing a key resistance level at $96.80, with a potential breakout that could spark a strong rally. At the time of writing, QNT was trading at $94.68, down 1.28% over the past 24 hours. Bulls need to reclaim this level to confirm a trend shift, but failure to break through could lead to a decline. The question remains: will QNT push higher or face another rejection?

QNT has been moving within a falling wedge, a bullish reversal pattern. The $96.80 resistance has repeatedly rejected price surges, making it a crucial level to watch. If bulls manage to push above it, momentum could build, driving QNT toward $121.60. A further breakout could extend gains to $142.90 or even $170.00. However, failure to break above could cause a pullback toward $85.00, where strong support exists. Additionally, Bitcoin's movement will influence QNT's direction.

On-chain data presented mixed signals. Net network growth was up by just 0.29%, reflecting weak adoption. Without new users, bullish momentum could weaken. However, 1.11% of holders remained in profit, suggesting some positive sentiment. Concentration levels remained unchanged, meaning whales were neither accumulating nor selling significantly. Meanwhile, large transactions have dropped by 3.61%, showing reduced institutional participation. If whales enter the market aggressively, QNT could gain the push needed for a breakout.

Exchange reserves have slightly increased by 0.02%, signaling a potential rise in selling pressure. When reserves climb, more coins are available for trading, increasing volatility. If this trend continues, Quant may struggle to hold support levels. However, if reserves decline, it could indicate accumulation, reducing selling pressure. A drop in reserves would confirm that investors are holding rather than selling, strengthening the bullish outlook.

The Binance liquidation heatmap showed significant liquidation clusters between $96 and $98. If Quant moves into this zone, forced liquidations could trigger rapid price movement. A breakout above $98 could push QNT toward $100 as short sellers get liquidated. However, if rejection occurs, Quant could retrace toward $90, where strong liquidity support