During the previous retracement, which took place around July’s fourth week, the Quant (QNT) price retraced 38.2% and bolstered the recovery rally to reach the $132.84 mark. Furthermore, the recent correction tumbled the prices by the same 38.2% and showed some recovery signs at this support. However, the buyers need better confirmation to continue the prevailing bull run.
Key points from QNT analysis:
- The QNT price is resonating in a no-trading zone.
- The buyers failed to sustain prices above the 200-day EMA
- The intraday trading volume in the Quant is $34. Million, indicating a 27.5% loss
The QNT/USDT pair recovery initiated from the $41.16 surged the prices 235.6% higher to hit the $132.84 mark. During this run-up, the altcoin showed several pullbacks, replenishing the bullish momentum for further gains.
Similarly, amid the recent market correction, the QNT price turned down from the $132.8 resistance and triggered another bearish pullback. This retracement tumbled the market value by 26.6% and plugged to the combined support of 0.382 Fibonacci retracement level and the $100.
