Quant (QNT) is displaying signs of potential growth, with recent price actions suggesting a possible bullish breakout. Despite a minor dip, the token is maintaining its position above critical support levels, signaling a potential reversal. Currently trading around $104, QNT is setting its sights on higher targets if it manages to surpass a crucial resistance level.

Double-Bottom Pattern Suggests Reversal

A key technical pattern forming for Quant is the double-bottom at $102. This chart formation is often interpreted as a bullish signal, indicating that a market reversal could be on the horizon. As the price holds steady near this support zone, it strengthens the case for an impending price increase.

To confirm the bullish trend, QNT needs to break through its next resistance at $121.44. A successful push above this level could pave the way for a significant rally, potentially targeting a price of $145. However, failing to maintain support at $102 could lead to further consolidation, delaying any upward movement.

Technical Indicators Align with Bullish Sentiment

Several technical indicators are currently showing promising signs for QNT. The Parabolic SAR, which tracks price trends, is indicating a potential shift toward an uptrend, with the dots appearing below the candlesticks. This suggests that QNT may be on the brink of a bullish breakout if the momentum continues.

The Relative Strength Index (RSI) currently stands at 46.94, reflecting moderate buying interest. This position leaves room for growth, with a move above the 50 mark indicating an increase in buying pressure, which could accelerate QNT’s rise.

Network Activity Signals Positive Market Sentiment

Beyond the technical analysis, QNT is also benefiting from growing network activity, which reflects increased interest in the token. Over the past week, both active addresses and new addresses have seen significant growth, up by 38.28% and 29.50%, respectively. This surge in network activity often precedes positive price movements, as it signals a higher level of engagement and potential adoption.

Moreover, the increase in user participation suggests that more investors are confident in the long-term potential of QNT, further supporting the bullish outlook.

Decreasing Selling Pressure and Growing Accumulation

Another positive sign for QNT is the decrease in selling pressure. Over the past week, outflow transactions have increased by 43.33%, signaling a shift toward accumulation rather than selling. This trend suggests that more holders are choosing to retain their tokens, which typically indicates growing confidence in the asset’s future performance.

The declining selling pressure also aligns with a drop in exchange reserves, which fell by 0.24% in the last 24 hours. The reduction in reserves points to fewer tokens being available for sale, suggesting that investors are less inclined to sell their holdings. This further supports the case for upward momentum in QNT’s price.

Path to Higher Targets

With a solid foundation of technical patterns, rising network activity, and diminishing selling pressure, QNT is well-positioned for potential growth. However, the key to a breakout lies in successfully surpassing the $121.44 resistance level. If this level is broken, QNT could aim for $145, representing a significant milestone in its recovery.

For now, maintaining support at $102 is crucial for QNT’s short-term outlook. The token needs to continue building momentum to secure a bullish trend. In the coming days, the market’s response to these key levels will be pivotal in determining whether QNT can continue its path toward higher targets or experience further consolidation.