Quant’s $146 Target in Sight as Inverse Head-and-Shoulders Pattern Sparks Rally Hopes

Technical traders are buzzing as Quant breaks out of a bullish inverse head-and-shoulders formation—a classic reversal signal that’s got the altcoin crowd dusting off their moon math.

The $146 price target now looms large, though seasoned crypto vets know these patterns work until they don’t. Another ’sure thing’ setup in an asset class where TA stands for ’Totally Approximate’.

Will this be the chart that finally makes technical analysis look smart again? The market’s waiting with the usual mix of hopium and skepticism.

From a technical standpoint, QNT printed a bullish engulfing candle on Monday, confirming a breakout from the inverse head and shoulders pattern on the daily chart. This breakout is supported by a golden cross between the 50-day and 200-day exponential moving averages, along with a fresh MACD crossover, both signals that typically suggest a strengthening bullish trend.

If the breakout holds, the pattern projects a potential upside of about 42.3% from the neckline around $102, placing the price target NEAR $146. This also lines up with the 78.6% Fibonacci retracement level, adding more weight to that target.

That said, there are a couple of resistance zones along the way, $114 marks the 50% retracement, and $127 represents the 61.8% level, both of which could act as minor hurdles during the climb.

On the flip side, if QNT dips back below $102, the bullish setup could be invalidated. In that case, the price might retreat toward the $91 support zone before finding a new direction.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.