Ah, QNT, the little crypto that could! It’s like the underdog in a feel-good movie, showing early signs of a bullish reversal with a potential inverse head and shoulders pattern. Who knew crypto could be so… dramatic?
According to the ever-reliable crypto.news (because who doesn’t trust a website with “news” in its name?), Quant (QNT) has jumped over 10% in the past 24 hours. It reached an intraday high of $106.67 on the morning of May 27. This move pushed its market cap to around $1.55 billion, which is nearly 80% above its year-to-date low. Talk about a glow-up! 💅
Daily trading volume also shot up by more than 200%, hitting over $50 million. Meanwhile, its open interest spiked 43% to $22.9 million, its highest level since February. It’s like a party in the crypto world, and everyone’s invited! 🎉
What’s fueling this excitement, you ask? Well, CEO Gilbert Verdian announced that Overledger Fusion will begin rolling out in June 2025. This new upgrade, described as a “Layer 2.5” network (because why not add another layer?), introduces multi-chain rollups, secure cross-chain smart contracts, and improved privacy tools. It’s like giving blockchains a spa day! 🧖♂️
According to Quant, the goal is to fix major pain points that have slowed down institutional adoption of public blockchains. You know, the usual suspects: compliance risks, data privacy concerns, and poor scalability. By allowing smoother asset and data movement between private and public chains, Fusion could appeal to banks, fintech firms, and other organizations exploring blockchain integration. It’s like a matchmaking service for blockchains!
This update seems to have caught the market’s attention, as it outlines a clearer roadmap for how Quant plans to expand its role in blockchain interoperability. While it’s still in the early days, traders may be reacting to the potential for broader adoption, especially with Quant’s existing involvement in initiatives like the digital euro. Who knew crypto could be so… international?
Adding to the bullish case, Santiment data shows daily active addresses on the Quant network surged 47% over the past day. That’s right, folks! More people are getting involved, which means more chances for drama and excitement. 📈
From a technical standpoint, QNT printed a bullish engulfing candle on Monday. Yes, you heard that right! A bullish engulfing candle! It’s like a candle that’s had too much coffee and is ready to take on the world. This breakout is supported by a golden cross between the 50-day and 200-day exponential moving averages, along with a fresh MACD crossover. Both signals typically suggest a strengthening bullish trend. It’s like the stars are aligning for QNT!
If the breakout holds, the pattern projects a potential upside of about 42.3% from the neckline around $102, placing the price target near $146. This also lines up with the 78.6% Fibonacci retracement level, adding more weight to that target. It’s like a math problem that actually makes sense! 📊
That said, there are a couple of resistance zones along the way. $114 marks the 50% retracement, and $127 represents the 61.8% level. Both of which could act as minor hurdles during the climb. It’s like an obstacle course, but for crypto!
On the flip side, if QNT dips back below $102, the bullish setup could be invalidated. In that case, the price might retreat toward the $91 support zone before finding a new direction. It’s like a rollercoaster ride, folks! 🎢
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2025-05-27 10:43