- On-chain statistics showed a jump of 25.27% in the daily active addresses, which indicates a growing interest.
- Traders were supplied too much at $ 78.90 at the bottom and $ 87.10 at the top.
On May 2, because most cryptocurrencies had trouble getting Momentum, Quant [QNT] Stole the spotlights through the market.
Not only has QNT surplus large assets such as Bitcoin [BTC]Ethereum [ETH]and Solana [SOL]But it also cleared the way to continue this upward momentum in the coming days.
QNT Price Momentum and Market sentiment
At the time of the press, QNT traded in the vicinity of $ 82.30, after he had registered a price die of more than 8.50% in the last 24 hours.
In the same period, participation of traders and investors shot up, which led to an increase of 115% in the registered trade volume.
The peak in trade volume, in addition to rising prices, suggested a strong bullish momentum and hinted at a real rally, indicating that the upward trend could be sustainable.
With its upward movement of 8.50%, QNT BTC, ETH, SOL and others left behind, because they registered the pricestics of 1.60%, 0.35%and -0.80%in the same period.
Quant price promotion and technical analysis
According to the technical analysis of Ambcrypto, QNT Bullish seemed and he was ready for a huge upward momentum at the time of the press.
Source: Trade reproduction
The Active recently reversed its downward momentum by breaking a long -term bearish -falling trendline, followed by a short consolidation.
At the time of the press, QNT successfully broke from a strong horizontal resistance level at $ 80, so that the road was cleared for further upward momentum.
Based on the recent price promotion and historical patterns, if it is active above $ 80, there is a strong possibility that it could initially rise by 25% to reach the $ 104 level in the coming days. ‘
If the upward momentum remains unchanged, QNT can continue to rise by 18% until it reaches the level of $ 123.50.
At the time of the press, the Chaikin money flow of the token (CMF) was 0.17, which indicates a strong purchasing pressure in the active, which is a bullish sign.
Rising activity
In addition to the bullish price promotion, on-chain analytics company Intotheblock and Coinglass revealed that trader and investor participation has been actively raised.
In particular, there was a remarkable jump of 25.27% in the daily active addresses for the active, which indicates growing interest and trust of investors. It also reflected the increased demand for the asset.
Meanwhile another chains metric It revealed that traders currently supplied too much at $ 78.90 at the bottom (support) and $ 87.10 at the top (resistance).
For $ 258.71K they have built Long and $ 197.13k of short positions at these levels. These positions clearly indicate the bullish prospects of traders.
Source: Coinglass
When combining these on-chain statistics with the technical analysis, it seems that bulls dominate and the assets can float to higher levels in the coming days.