Quant: Are long-term holders positioning for a larger move? Assessing…
Quant (QNT) has recorded significant gains, breaking out of a bullish pennant pattern and climbing nearly 8% in a day. The price moved above the 20-day and 50-day exponential moving averages (EMAs), which may now act as support levels and signal a potential trend reversal. On-chain data supports this strength, with daily transactions rising to 60,000, indicating increased network engagement. Exchange withdrawals have dropped to a record low, with only 24 transactions recorded recently, suggesting reduced selling pressure. Long-term holders are reinvesting profits rather than withdrawing, reinforcing positive sentiment. Combined, these technical and on-chain indicators suggest the bullish momentum may continue.
ambcrypto01/20 11:32