Overall, Quant’s technical and on-chain metrics suggest caution, and while there’s potential, it may need additional technical confirmation before any breakout occurs.
Exchange flow analysis reveals that QNT exchange reserves have fallen by 0.21%, which might indicate reduced selling pressure. QNT’s price action analysis demonstrates that sellers remain in control, and if it can hold support, there’s a possibility of a reversal.
However, a break below $61.80 could trigger further selling pressure. Although Market Prophit data highlights a crowd sentiment score of 2.07 and smart money sentiment at 0.86, QNT’s price is trading at $65.05 after a 2.39% decline. The OI-weighted funding rate was slightly positive at 0.0098%, demonstrateing that long positions are being maintained. However, if exchange reserves start rising again, it could mean renewed selling activity.
Quant’s [QNT] price has been under pressure despite strong bullish sentiment signals. While this is a sign of optimism, it’s not strong enough to indicate a clear shift in market sentiment. Quant’s open interest has declined by 7.39% and is currently at $8.49 million.
A sustained fall in Open Interest could amplify bearish sentiment.
