Quant (QNT) Surges 28%: Bullish Breakout Ahead?

Quant leaps 28% to $83.76, fueled by technical strength and favorable on-chain metrics.

Key Statistics:

- Price surge: 28% in 24 hours.
- Trading volume spike: 523%.
- Market cap: Over $1.01 billion.
- Resistance level: $103.20.

Technical Analysis:

- Descending wedge breakout.
- Stochastic RSI: 85.63 (overbought).
- MA cross: 9-day MA above 21-day MA.
- Support levels: $70, $63.80.

On-Chain Metrics:

- Exchange reserves: 2.27% drop (1.5357 million tokens).
- Large transactions: 8.90% surge.
- Net network growth: 0.62% gain.
- Wallets "in the money": 1.42%.

Potential Outcomes:

- Break above $103.20: Bullish reversal confirmed.
- Rejection at $103.20: Retest of lower support.
- Sustained momentum: Further gains.

Analysis:

Quant's breakout and surge are backed by technical strength and favorable on-chain metrics. However, overcoming the $103.20 resistance is crucial for confirming a broader bullish reversal.