Key Insights:
- QNT trades mid-channel near $103, with resistance at $118 and major support near $90–$57.40.
- Short liquidations hit $527K in 24 hours, signaling pressure on bearish positions despite low volume.
- Open interest rises 2.41% to $26.96M, showing new positioning as traders await the next big move.
Quant (QNT) is trading near the middle of its long-term channel, a zone that analysts describe as less favorable for new positions. At the time of writing, QNT is priced at $103.79 with a daily trading volume of $16.91 million. The token has gained 0.76% in the last 24 hours but remains down 5.46% over the past week.
Mid-Range Positioning Limits Opportunity
The QNT/USDT weekly chart shows price moving within a defined channel, currently sitting in the $100–$106 area. Resistance is seen around $118, while immediate support is located near $90. With price positioned in the mid-range, traders face limited risk-to-reward potential compared to entries near the channel’s extremes.
Ali, a market analyst, noted
Meanwhile, this level has acted as a historical base in prior cycles, providing stronger long-term entry opportunities. The chart also outlines scenarios where failure to hold above $90 could trigger a decline through $82 and $68, eventually retesting the $57.40 level.
Liquidations Show Pressure on Shorts
Data from Coinglass indicates heavy liquidation activity among short positions. In the past 24 hours, short liquidations totaled $527,410, compared to just $7,660 from longs. This imbalance shows that traders betting against QNT have absorbed the majority of losses.
Source: QNT Total Liquidations Chart,CoinglassThe liquidation chart also shows QNT price holding in the $90–$100 zone, with more frequent liquidation spikes on the short side. The pressure on bearish traders may be contributing to short-term stability and limiting downside momentum.
Derivatives Activity Signals Position Building
Beyond liquidations, derivatives metrics show mixed behavior. Overall trading volume dropped by 5.86% to $15.61 million. However, open interest rose 2.41% to $26.96 million, suggesting that traders are opening new positions despite lower volume.
Options activity remains relatively muted, but the increase in open interest indicates positioning ahead of a possible larger move. This aligns with the technical setup, which places QNT near a decision point inside its channel structure.
Traders Monitor Key Support Levels
For now, QNT remains range-bound, with resistance at $118 and key support between $90 and $57.40. Holding above current levels may allow for short-term rebounds, while a deeper retest of the channel bottom could offer higher-risk reward opportunities.
Until price confirms a breakout or breakdown, traders are watching closely to see whether QNT trends toward the upper boundary or tests the lower channel at $57.40.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/qnt-traders-eye-57-40/
