Quant Price Consolidation Sets Stage for Potential $130 Breakout
Quant (QNT) is consolidating in a narrowing triangle formation, and its price could potentially break out to reach $130. This prediction comes from Crypto With Gopal's analysis of QNT's technical pattern. The coin has been showing signs of recovery since its drop in September, with bulls re-emerging and helping the token recover intermediate levels.
According to TradingView data, QNT made a base near $58-$59 on September 16 and rebounded to consolidate near $70-$72. The move gained traction due to increased bullish sentiment, taking QNT up to $81.034. In addition to technical recovery, derivatives trading activity has also increased, with an increase of 20.90% in trading volume and 11.95% in open interest.
Quant is expanding its institutional tokenization push through partnerships like the one with The Clearing House, which will enable a platform for interoperability between tokenized deposits and regulated banking systems. While this partnership may not directly affect QNT's price movement, it adds to the company's fundamental value. To achieve success in reaching $130, bulls need a breakout above the upper trendline of the triangle formation.