Quant (QNT) is showing early signs of a potential trend reversal after rebounding from a significant support zone. Active price movement and Elliott Wave analysis suggest possible growth.
Current Status
As of now, QNT trades at $99.35, reflecting a 1.91% gain over the last 24 hours. The asset has shown steady upward momentum since June 27, indicating recovery strength. The $100 level now serves as immediate psychological resistance.
Elliott Wave Analysis
Current Elliott Wave analysis suggests that wave (b) is in progress, with wave (c) possibly initiating soon. A breakout above $111.15 would confirm this structure, which analysts consider a key threshold validating bullish continuation.
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 failure to stay above the current zone could expose QNT to additional losses. The next critical support level is the 78.6% Fibonacci retracement at $68.82.
Overall market sentiment remains positive but tentative, with confirmation above $111.15 required to shift to a more bullish stance.
