The Market Flush-Out and Potential for a Major Rally

The market flush-out in the past trading session could be part of the overall movement before a major rally.
* A surge in Quant’s active addresses correlated with buying activity from different market segments.*

Quant [QNT] has managed to maintain a positive trend over the past week, growing by 8.15%, with a slight rally of 0.58% in the last 24 hours.

This growth is supported by its current technical pattern and buying activity among market participants.

Investors Flush Out Ahead of a Major Move

On the daily chart, QNT has been trading within a bullish triangle pattern, fluctuating between defined support and resistance levels. Recently, QNT breached this pattern, creating a potential stop hunt.

A stop hunt occurs when the price trends lower abruptly, breaching support or resistance levels and liquidating orders in the market before rallying in the original market direction.

In this instance, QNT breached the support level, enabling savvy investors to acquire more QNT at a lower price before the anticipated upward trend.

However, QNT’s potential for a major move hinges on its ability to reclaim support at $96.9. If achieved, this could signal a return to the bullish pattern, with a possibility of breaching upward to establish a new high of $171.7—a remarkable 77.45% market rally.

Buying Activity from Quant Traders Could Push Prices Higher

There has been an increase in activity among market participants trading QNT. AMBCrypto attributes this surge to buying activity linked to the amount sold on exchanges over the past 48 hours.

Insights from IntoTheBlock reveal that in the past week, the number of active addresses has risen by 2.02%, reaching 897 unique addresses in the last 24 hours. These addresses have collectively contributed to approximately $280,000 worth of QNT purchased in the past 48 hours.

According to current exchange netflow, which has turned negative, $262,320 was purchased in the past day, along with an additional $18,110 worth of QNT at the time of writing.

If this purchase momentum continues, it presents a substantial opportunity for QNT to reclaim its support level and initiate a major upward move.

Large Holder Trading Spikes Again

Following a slight dip in activity, interest among large QNT holders, who control a significant share of the asset, has resumed an upward trajectory.

From its low the previous day, a total of $1.29 million in QNT was traded, indicating increased interest among large holders. This renewed interest could positively influence the asset price, which has seen a climb in the past 24 hours.