Quant Surges 10.65% to Three-Month High Amid Mixed Sentiment

Quant [QNT] has experienced a significant surge in value, reaching a three-month high of $108, marking a 10.65% increase over the past 24 hours. This upward momentum has been driven by a notable increase in both buying and selling activity, with buyers accumulating 27K QNT tokens and sellers offloading 26K QNT tokens. The spot market volume surged by 346.9%, climbing to $40.2 million, indicating strong market engagement.

Despite the price increase, there are signs of bearish sentiment among traders. The Funding Rate (FR) for Quant has dropped sharply into negative territory, hitting a monthly low. This suggests that most investors are entering the market with short positions, which is typically a bearish signal. The surge in futures activity appears to be driven by selling volume, with 6K sell orders compared to 3K buy orders. This indicates that futures market participants are not bullish, despite the rising prices.

The spot market reflects a similar trend, with exchange inflows surpassing outflows. Despite rising prices, sellers have offloaded $1.1 million worth of Quant, signaling significant profit-taking by investors who had been underwater since February. This price increase, paired with bearish sentiment, raises questions about Quant’s future trajectory.

According to the analysis, Quant is experiencing strong upward momentum, but market sentiment is yet to turn bullish. The altcoin’s MACD and RSI bullish crossovers confirm strong upward momentum. The RSI crossover indicates a surge in buyer pressure, with buyers firmly controlling the market. Meanwhile, the MACD crossover reinforces this demand, signaling that the uptrend is likely to continue. The bullish crossovers suggest that speculators have entered the market, driving prices higher over the past day. If speculators continue buying, Quant could rally to $113. However, conviction buyers have yet to step in, and overall market sentiment remains cautious.

Meanwhile, increased selling activity on exchanges indicates that holders are taking profits. If this trend continues, the uptrend may be short-lived, and QNT could retrace to $98. The fundamentals of Quant indicate a high level of profit-taking as holders lack conviction, which could further impact the price trajectory in the coming days.