Quant (QNT) Price Makes a Strong Rebound From the Lows, Is a Bull Run Coming in September?

Quant price made a strong rebound from the lows, indicating a buyers' comeback. At the time of writing, Quant was exchanging hands at close to $68.23.

Quant price displayed a remarkable recovery from recent lows, surging over 13% and trading around $68.23 at the last check. This strong rebound signaled a return of buyers in the market.

After a sharp decline and panic among investors due to broader market conditions, this rebound brought some relief to Quant holders.

Over the last couple of months, Quant has been in a correction phase, but this recent buying activity might flip the script and lead to a recovery in the crypto’s price.

Whales Accumulating Quant Near Lows

As highlighted by analysts, even before this rebound, there was a lot of activity around Quant, especially from the beginning of September.

According to analysts, the top addresses, also known as whales, started accumulating Quant near the lows. These whales, who have more capital and resources, are usually on the right side of the trend.

As of September 1, these whales held 24.08% of the total supply, which has now increased to 24.58%. This indicates that whales have been accumulating roughly 0.5% or 74,400 QNT tokens in a week.

Moreover, positive divergence has emerged between QNT price and DAA (Daily active addresses), as noted by on-chain analytics platform Santiment.

The price DAA divergence is a metric that shows the change in bullish or bearish divergence created between the price and daily active address.

A bullish divergence indicates the buyers’ comeback at lower levels, which could trigger a recovery in the crypto.

Is Quant Set For A Bull Run In September?

Since March, QNT has been in a seller’s trend, with a seven-step downtrend on the weekly chart. However, the scenario may be changing as buyers and large players have been accumulating in recent sessions.

If we look at the price action precisely, there has been consolidation in the last couple of weeks with bulls aiming for the $50 level. Meanwhile, bears have positioned themselves at the $70 level.

Strong buying in the last couple of sessions shows that buyers are trying to break out. Now, a sustained breakout above the $70 level will confirm a bullish reversal in the short term, opening up a potential run towards the 200 day EMA.

If the price conquers and sustains above the 200 day EMA, the long-term view will shift to bullish. However, breaking the recent supply at the 200 day EMA or $84 level will require more buying volume.

If buyers fail to make a reversal, sellers may enter at higher levels, and the price could fall to the August lows.

In the short term, technical indicators like RSI and MACD continue to show bullish continuation.

The above is the detailed content of Quant (QNT) Price Makes a Strong Rebound From the Lows, Is a Bull Run Coming in September?. For more information, please follow other related articles on the PHP Chinese website!