Quant (QNT) Surges 8.50% as Daily Active Addresses Jump 25.27%

Quant (QNT) has shown a significant surge in its daily active addresses, increasing by 25.27%. This surge indicates a growing interest and engagement within the Quant community, suggesting a potential for continued upward momentum in the cryptocurrency's price.

The recent price action of qnt has been particularly noteworthy. As of the latest data, QNT is trading around $82.30, marking an 8.50% increase within the last 24 hours. This price surge is accompanied by a substantial 115% increase in trading volume, which points to robust market engagement and a potential rally. The bullish trend is further supported by the fact that major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) saw only modest gains, with BTC and ETH increasing by 1.60% and 0.35% respectively, and SOL decreasing by 0.80%. This contrast underscores QNT’s dominant market performance.

Technical analysis from COINOTAG reveals a bullish outlook for QNT, positioning it for substantial upward movement. The recent price action saw QNT break free from a long-standing bearish trendline, followed by a consolidation phase. With the recent breakout above the strong horizontal resistance at $80, the asset is primed for further upside. Should QNT maintain its position above this threshold, it could potentially surge by 25%, targeting the $104 level in the near future. If the momentum continues, an additional rise of 18% could see the price reach $123.50. Currently, the Chaikin Money Flow (CMF) stands at 0.17, indicating strong buying pressure—a further bullish indicator.

Alongside the bullish price movements, on-chain analytics reveal a dramatic increase in trader and investor participation. A notable 25.27% increase in daily active addresses signifies heightened interest and confidence from investors, reflecting a growing demand for QNT. Moreover, on-chain data shows that traders are currently over-leveraged, with support at $78.90 and resistance at $87.10. Traders have established approximately $258.71k in long positions and $197.13k in short positions, signaling a bullish outlook across the board. When analyzing these on-chain metrics alongside the technical analysis, it’s apparent that bulls are firmly in control, potentially driving QNT to higher price levels in the imminent future.

In summary, Quant (QNT) is experiencing significant upward momentum, reflected in its price action and increasing trader activity. With robust technical indicators and growing demand, QNT is positioned favorably for potential price increases ahead. Investors should monitor these developments closely, as the cryptocurrency landscape continues to evolve.

Ask Aime: Why is Quant surging 25% with an 115% volume spike?