- QNT finds strong support between $91.72 and $83.15 Fibonacci levels.
- A break above $111.15 may confirm a new upward Elliott Wave movement.
Quant (QNT) is showing early signs of a potential trend reversal after rebounding from a significant support zone. According to More Crypto Online, QNT has reacted positively to a central Fibonacci support region.
Analysts highlighted a confluence of retracement levels, ranging from 88.1% to 61.8%, that provided a strong base between $91.72 and $83.15. The price rebounded after dipping below $98, marking a short-term low.
The current Elliott Wave analysis suggests that wave (b) is in progress, with wave (c) potentially initiating soon. According to the chart from More Crypto Online, a breakout above $111.15 would confirm this structure. Analysts consider this level a key threshold that would validate a bullish continuation.
If QNT clears this level, it would likely target higher Fibonacci extension levels. This would signal that the corrective phase has ended and a new impulse wave is underway. However, without a confirmed breakout, the scenario remains speculative.
At the time of writing, QNT trades at $99.35, reflecting a 1.91% gain over the last 24 hours. The asset has shown a steady upward move since June 27, indicating recovery strength. The $100 level now serves as the immediate psychological resistance to watch.
What to Expect If Price Fails or Breaks Out
While bullish momentum is building, traders remain cautious due to the asset’s recent volatility. Analysts note that failure to stay above the current zone could expose QNT to further losses. The next critical support is the 78.6% Fibonacci retracement at $68.82.
Price action near $100 will be closely monitored. If resistance at that level holds, the asset may re-enter a consolidation phase. Market sentiment remains positive but tentative, with confirmation above $111.15 required to shift to a more bullish stance.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
