Quant (QNT) Eyes $80 Recovery After Inverse Head and Shoulders Formation

Quant (QNT) may be signaling a bullish turnaround on Wednesday, February 11, spotting a potential inverse head and shoulders pattern forming, according to the crypto analyst Crypto Pulse.

This classic technical setup often indicates a shift from bearish to bullish momentum. Traders are watching closely, as a confirmed breakout could mark a decisive shift in market sentiment for the token.

Source: Crypto Pulse X Post

A breakout and close above $71 is necessary to validate the pattern, which could potentially lead to further increases. The momentum may allow QNT to retest the highs in the $80+ region.

As optimism builds, investors may need to wait for confirmation, as the reversal pattern will determine whether the token is ready to continue its upward trajectory.

Also Read: Quant Price Near $80, Could QNT Reach $165 Before Fusion Mainnet Launch?

Quant (QNT) Technicals Suggest Improving Conditions

According to TradingView, as of Wednesday, February 11, on a 4-hour timeframe, QNT experienced a steep price drop during the period between late January and early February.

The price fell significantly from $78 to $55 on February 5th. It was marked by long red candlesticks piercing the lower Bollinger Bands. It remained below the major moving averages during the period. It was a period of market pressure with heightened volatility.

Source: TradingView

At the moment, QNT has bounced back to the $68 area, crossing above the 20-day and 50-day SMAs but still remaining below the 100-day and 200-day SMAs.

Bollinger Bands have tightened, indicating reduced volatility and a possible period of consolidation. This suggests a partial bullish trend within a bearish trend, with resistance around $70 to $73 and support around $65 to $64.

Momentum Indicators Point to Consolidation Phase

The RSI is at 56.47, which means the asset’s momentum is neutral; it is neither overbought nor oversold. Although the RSI indicates that the price is rising, it has not risen enough to become overbought. So, it has a slightly positive mood but no strong momentum in any particular direction.

Source: TradingView

From the MACD readout, the blue line is above the orange line. This indicates that the market is bullish. The values of the histogram are also positive.

However, the distance between the two lines is quite narrow. This might indicate a short consolidation before the market makes its move. Both of these indicators need to be monitored for any sign of growth or a reversal.

Also Read: Is QNT Preparing a Bounce? Weekly Chart Shows $75 Upside Target