Quant (QNT) is surging after breaking out of a bullish pennant pattern and breaking above the 20-day and 50-day EMAs, a technical signal that often indicates a short-term trend has reversed to bullish.
The upward momentum was reinforced by on-chain data: daily volume increased and the number of QNT withdrawals from exchanges fell to a record low, thereby weakening selling pressure and supporting the scenario of further gains.
- QNT surged nearly 8% on the day after breaking out of the bullish pennant and surpassing the 20/50-day EMA.
- on-chain support for the upward trend is evident as the 24-hour transaction volume reaches 60,000.
- The number of times QNT shares were withdrawn from the exchange has fallen to its lowest level ever recorded, implying a reduction in selling pressure.
QNT has broken out of the bullish pennant pattern and reversed its short-term trend.
QNT surged after completing a consolidation phase around $78 and breaking above the 20-day and 50-day EMAs, often XEM as a signal that buying pressure is regaining control.
Over the past 5 days, QNT has recorded a significant increase on the daily chart after breaking out of a bullish pennant consolidation phase. At the time of recording, the price had increased by nearly 8% in a single day.
The key technical highlight is the decisive breakout above the 20-day and 50-day EMAs. In technical analysis practice, the price reclaiming the short- and medium-term EMAs usually indicates that the previous downtrend has weakened, and opens the possibility of forming a short-term uptrend if buying pressure persists.
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Holding above the 20/50-day EMA could provide a springboard for a further upward move.
If QNT maintains trading above the 20-day and 50-day EMAs, these lines could Vai to support, reinforcing the bullish continuation scenario.
At the time of this assessment, QNT is above both EMA lines. This is a significant position because when the price holds above the moving Medium , the market often considers corrections to near the EMA as testing support.
In the context of Quant, the 20-day and 50-day EMAs holding strong could lay the groundwork for a more sustained reversal attempt. However, the signal would be more reliable if the rallies did not break through the EMA zone and volume/momentum remained consistent in subsequent sessions.
Quant's on-chain index is trending upward.
on-chain data is supporting QNT 's emerging strength as the number of transactions in 24 hours has increased to 60,000, reflecting a higher level of network participation.
Quant's daily volume has reached 60,000 transactions in the last 24 hours. This figure indicates a significant increase in network activity compared to the previous period.
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Historically, in the movement of many Cryptoasset, increased on-chain trading activity has often been accompanied by higher levels of interest in/deployment of the network, which can coincide with improved market sentiment in the early stages of a trend shift.
Long-term holding activity increased as the number of QNT withdrawals from the exchange decreased to a record low.
The number of QNT withdrawals related to the exchange has fallen to its lowest level ever recorded, usually implying reduced selling pressure, while long-term holder sentiment remains positive.
The indicators related to the exchange are in sync with the upward trend. Specifically, the number of QNT withdrawals has decreased to the lowest level in the history of the data mentioned.
This altcoin has only recorded 24 transactions since the morning of January 20th until the time of this report. This is the lowest level of activity ever recorded in the context of this index.
In terms of market behavior, reduced withdrawals from exchanges typically mean fewer Token are being transferred to the exchange for sale, thereby reducing short-term supply pressure. At the same time, this picture aligns with the observation that long-term investors/holders tend to continue holding or reallocate profits rather than listing Token on exchanges.
In summary, long-term holding activity, increased on-chain trading volume, and positive technical signals are increasing the probability of a continued uptrend in the long term, provided that technical support zones (especially around the EMA) continue to be defended.
Conclude
QNT maintained its upward momentum as it continued to trade above the 20-day and 50-day EMAs, while on-chain data showed improved network activity and reduced potential selling pressure due to record low exits from exchanges.
Frequently Asked Questions
Why is it important for QNT to surpass the 20-day and 50-day EMAs?
Breaking above the 20/50-day EMA is generally XEM as a signal that the short-term trend is turning positive, as the price has reclaimed key moving Medium that could become support during a correction.
What on-chain data is supporting Quant's upward trend?
The 24-hour transaction volume rising to 60,000 indicates higher network participation, often accompanied by improved market sentiment in the early stages of a trend reversal.
What does the sharp decrease in the number of times QNT is delisted from the exchange indicate?
When the exchange-related Token withdrawal decreases, fewer Token are typically listed for sale, thereby reducing selling pressure. In this article, the index even dropped to its lowest level ever recorded.
