QNT Price Rally Faces Profit-Taking Risk Amid Dormant Wallet Activity

Quant (QNT) has seen an explosive rally in recent times, but profit-taking risk is looming large. The price of Quant did not have a smooth upward momentum and instead rose towards $330 before retracing to $232. It then regained momentum and was trading near $280 at press time.

The 250% increase in Quant's value during the week has resulted in additional unrealized profits for those who purchased recently. However, this recovery shows that there are still many buyers active in the market, with the $300 area becoming an important testing ground for these buyers.

Despite elevated bullish momentum, as indicated by a Relative Strength Index (RSI) of 68.04, Quant could see another push higher before profit-taking activity intensifies. However, this may be short-lived, given the recent movement of a dormant wallet that has been inactive for approximately seven years.