Quant (QNT) Outperforms Crypto Heavyweights with 8.5% Rally—Is $104 the Next Stop?

While Bitcoin and Ethereum play catch-up, Quant’s QNT token just posted a blistering 8.50% surge—leaving SOL, ETH, and BTC in the dust. The obscure altcoin now eyes $104 as its next target, proving once again that in crypto, the ’narrative’ often trumps fundamentals.

Technical breakout or just another pump? Traders are split. The Quant network’s enterprise blockchain solutions gained traction this week, but let’s be real—this is crypto, where ’utility’ sometimes means ’excuse to FOMO.’

Watch the $104 resistance level. If QNT clears it, the token could attract fresh capital from yield-chasing degens. If not? Well, there’s always another shiny altcoin around the corner—Wall Street’s ’diversified portfolios’ could never.

QNT price momentum & market sentiment

At press time, QNT was trading NEAR $82.30, having registered a price surge of over 8.50% in the past 24 hours.

During the same period, participation from traders and investors skyrocketed, leading to a 115% surge in the recorded trading volume.

The spike in trading volume, alongside rising prices, suggested strong bullish momentum and hinted at a genuine rally, indicating that the uptrend could be sustainable.

With its 8.50% upside move, QNT has left BTC, ETH, SOL, and others behind, as they recorded price surges of 1.60%, 0.35%, and -0.80%, respectively, during the same period.

Quant price action & technical analysis 

According to AMBCrypto’s technical analysis, QNT appeared bullish and was poised for massive upside momentum at press time.

Source: Trading View

The asset recently reversed its downside momentum by breaching a prolonged bearish descending trendline, followed by a brief consolidation.

At press time, QNT successfully broke out of a strong horizontal resistance level at $80, paving the way for further upside momentum.

Based on the recent price action and historical patterns, if the asset holds above the $80 mark, there is a strong possibility it could initially soar by 25% to reach the $104 level in the coming days. ‘

If the upside momentum remains unchanged, QNT could further soar by 18% until it reaches the $123.50 level.

At press time, the token’s Chaikin Money Flow (CMF) was 0.17, indicating strong buying pressure in the asset, which is a bullish sign.

Surging activity

In addition to the bullish price action, on-chain analytics firm IntoTheBlock and CoinGlass revealed that trader and investor participation in the asset has skyrocketed.

Notably, there was a notable 25.27% jump in the daily active addresses for the asset, indicating growing interest and confidence from investors. It also reflected increased demand for the asset.

Meanwhile, another on-chain metric revealed that traders were currently over-leveraged at $78.90 on the lower side (support) and $87.10 on the upper side (resistance).

They have built $258.71k worth of long and $197.13k worth of short positions at these levels. These positions clearly indicate traders’ bullish outlook.

Source: CoinGlass

When combining these on-chain metrics with the technical analysis, it appears that bulls are dominating and could drive the asset to higher levels in the coming days.