CandleFocus

Quant Attracting Whales: Revival Expected This Month?

Author: Content Editor
The price of the cryptocurrency Quant has experienced a strong rebound, with a 13.5% jump in a single day. This rebound has provided relief to investors who were previously fearful due to the price drop and market conditions. Analysts have noted a significant shift in on-chain metrics, indicating further potential for price enhancement. Top addresses, or whales, have been accumulating Quant near its lows, and their holdings have increased over the past week. A positive divergence has also developed between the QNT price and daily active addresses, suggesting a bullish comeback. While the price has been in a correction phase, recent sessions have seen buying activity and potential for a breakout. A sustained breakout above the $70 level could indicate a bullish reversal in the short term, with a potential run towards the 200-day EMA. However, more buying volume is needed to overcome resistance levels at the $84 mark. Failure to reverse could lead to further price declines. Technical indicators suggest a bullish continuation in the short term.

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