The Quant (QNT) price is showing signs of recovery after breaking above a descending channel that defined its recent correction. The price has jumped over 20% in the past 24 hours, reaching $216.33 as buyers push it above the bearish threshold. The technicals also support the bullish narrative, as the token reaches the price range where it witnessed massive trading activity. Therefore, this move raises an important question: is this the beginning of a larger recovery, or is QNT simply experiencing a short-term bounce after a steep correction?
Technicals Signal a Potential Recovery
Soon after reaching the local highs around $330 to $350 in September, the extensive profit-taking sent the price lower. The recent announcement of the Clearing House selecting Quant to support its on-chain money initiative has added to the institutional adoption narrative. While a descending channel breakout can signal a shift in short-term momentum, the price still needs to demonstrate that buyers are willing to step in after the correction.
QNT price climbed from a daily low of $187.68 to a high of $209.55, closing near the top of its range. Besides, the MACD is displaying a drop in selling pressure, but the bullish crossover is not yet confirmed. The latest bullish candle saw higher volume and renewed participation. Also, the RSI has rebounded significantly after plunging below the average range. A sustained upswing would support the bullish scenario, while a move back below could indicate weakening in momentum.
Key Levels to Monitor
- $223 to $224: Immediate resistance
- $204 to $205: Breakout support
- $230 to $250: Potential upside target
- $178 to $180: Lower support
- $170: Critical support
- $330 to $343: Major resistance
The Bottom Line: Can QNT Price Rally Another 50% This Month?
Quant price is showing early signs of recovery after breaking above its descending channel; however, the next move will depend on whether it can sustain its breakout & overcome the resistance. If it manages to hold above $204 to $205 and break $225, the rally may further advance toward $230 to $250. This could potentially open the way toward $313 to $325, rising by more than 50%.
On the other hand, if Quant price fails to sustain the breakout and falls below $205, selling pressure could push it below $180. For now, the breakout offers an encouraging signal, but the next confirmation will come from the price action around $225 and the ability of bulls to defend $205 support. A rally toward $325 remains possible, but QNT price must clear several resistance levels before a 50% advance.
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