Quant [QNT] has declined 50.5% from the $373 high it reached on September 27. The cryptocurrency recently fell below the $200 support level amid ongoing market pressure.
Broader market turbulence has accompanied QNT's losses. A reported $6.3 billion security incident at a major exchange triggered significant selling across digital assets, with Bitcoin also declining below the $80,000 level and weighing on altcoin valuations.
Technical Analysis
On the daily chart, QNT is trading near the 61.8% Fibonacci retracement level at $178.8, which is currently acting as support. A daily close below $173.5 would signal further weakness, potentially targeting the 78.6% retracement level at $126.
The 4-hour chart shows a more stable structure. The price broke above the $212.87 swing level earlier in the week, and a subsequent retracement toward $180 may be stabilizing. Technical indicators remain neutral, with the RSI below 50 and balanced on-balance volume.
If QNT stabilizes at current levels, a bullish target of $223.5 is identified, with invalidation occurring below $173.56.
Market Outlook
Sentiment remains fragile in the wake of recent market events. A recovery in QNT's price would likely depend on broader market stabilization and renewed investor confidence in digital assets.
