Quant (QNT) is among the altcoins to record decent gains in the past 24 hours.
The native token of the distributed ledger technology platform built on Overledger and focused on interoperability, spiked to highs of $114.78 early Friday.
QNT gains included a 8% surge in price and 10% increase in daily volume, which reached $42.2 million.
QNT surges amid gains for JASMY and OM
In this early trading session on January 31, Quant joined top 24-hour performers that included JasmyCoin (JASMY), Arweave (AR), Mantra (OM) and Virtuals Protocol (VIRTUAL).
JasmyCoin led the upside flip for top mid-cap altcoins, with the “Japanese Bitcoin” up more than 22% at the time of writing.
Arweave, Mantra, DeXe and Virtuals Protocol were all sporting double-digit gains of between 14% and 16%.
Quant ranked above Mantle, Injective and Stacks in terms of 24-hour gains.
Notably, INJ price is eyeing a new leg up as Injective Labs target the tokenization wave with the launch of a new AI index.
What are crypto analysts saying?
Overall, the crypto market is eyeing further gains after a broader risk asset upside flip on the latest from the US Federal Reserve.
Bitcoin looks steady above $105k and Ethereum is at $3,200. XRP, Litecoin and Solana are bullish amid spot ETF news.
According to CryptoQuant CEO Ki Young Ju, the crypto market is likely to see further gains.
Ki notes that the bull market is not over yet.
“Bitcoin bull cycle isn’t over. The buying engine for paper Bitcoins is still running. In 2021, the downturn came two months after GBTC inflows dried up,” he posted on X.
No need to rush calling the cyclical top until ETFs, MSTR, and institutional buying slow down.
Quant price prediction
QNT/USD has struggled since bears rejected bulls advances in October 2022.
The decline from near $200 saw Quant drop to $62 in November 2024.
However, with crypto bullish amid Donald Trump’s election, QNT price bounced to highs near $170.
In essence, the altcoin has been in consolidation since 2021 when it fell from the all-time highs of $438.
The primary supply wall is near the previous bull market’s peak and is the next main target for buyers.
Quant chart by TradingView
As the daily Quant price chart shows, QNT has formed a descending triangle pattern.
The price is currently consolidating near the triangle’s resistance line to suggest a potential bullish breakout.
QNT’s daily RSI and MACD indicators also suggest a bullish flip.
If price breaks above the resistance line, it could surge to $170.
On the downside, the primary demand reload zone could be at the psychological $100 level.
A bloodbath could bring the $55 support level into view.
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