Quant (QNT) Price Rises 11% on Whale Buying
Quant (QNT) price rose 11% by Thursday, nearing the top of its trading range. This gain follows increased buying from large holders, known as whales. Derivatives traders are also shifting toward riskier positions. The Moving Average Convergence Divergence (MACD) indicator shows a buy signal, supporting a positive price outlook for QNT.
Whale Activity and Derivatives Support Bullish Trend
Whales typically buy before a price rise. Data from Santiment shows investors holding 10,000 to 1 million QNT tokens now own 57.83% of the supply. This is up from 56.98% on October 1. It means whales added about 130,000 QNT, increasing their holdings to 8.61 million tokens.
More whale buying often leads retail traders to follow.
Derivatives data confirms growing bullish sentiment. CoinGlass reports QNT’s open interest (OI)-weighted funding rate at 0.0103%. Positive funding rates mean long traders pay a premium to shorts. Although down from 0.0291% earlier, the rate remains mostly bullish.
Quant Targets $100 as Bullish Momentum Builds
QNT trades near $90, slightly above its recent $89.55 resistance. The consolidation range on the 4-hour chart has a base near $80.15. Closing above $89.55 could signal a strong breakout.
The MACD crossed above its signal line on the 4-hour chart, indicating buying pressure. Both MACD lines moved above zero, showing a strong bullish trend. The Relative Strength Index (RSI) reached 65, close to overbought levels, which also points to rising momentum.
If QNT breaks beyond the $94.71 high from October 13, it may aim for $100. After that, the next target could be last month’s high near $110.50.
On the downside, falling below $89.55 might lead to a test of the 200-period Exponential Moving Average (EMA) at $85.01.
