- QNT surged 13% over the past week, reducing yearly losses to 28% as the broader crypto market shows signs of recovery following ETH's 29% three-week rally.
- A Bearish Cypher harmonic pattern is forming on QNT's daily chart, suggesting potential bullish continuation toward a key reversal zone around $100.58.
- The pattern's target at point D represents approximately 32% upside potential from current levels of $76.31, based on the 78.6% Fibonacci retracement.
- QNT must first break through resistance at $79.00 (0.382 Fibonacci level) before targeting the final Cypher pattern completion, with MACD showing bullish crossover signals.
Date: Mon, April 28, 2025 | 11:08 AM GMT
Ater a rough start to 2025, where even Ethereum (ETH) tanked by 45% in Q1, the crypto market is finally flashing signs of much-needed relief. ETH is up 29% over the past three weeks, and this bullish momentum is now spilling over into the broader altcoin market.
Among these altcoins, Quant (QNT) — which had also endured a harsh correction — has managed to pull off a noticeable rebound. The token surged by 13% over the past week, trimming its yearly losses to 28%. Now, a key harmonic pattern is forming on the charts, hinting that the recovery may not be over just yet.
Harmonic Pattern Signals More Upside Move
The daily chart for QNT, viewed through Heikin Ashi candles, reveals a Bearish Cypher pattern — a harmonic structure that often signals a bullish continuation up to a key reversal zone.
The structure began at point X, which marked a rejection from the February 26 high of around $112.02. From there, the price plunged sharply to point A, bounced back to point B, and then dipped again deeply to point C, bottoming out around $58.60 on April 7 — marking a sharp 47% correction from the X point.
Currently, QNT is building the final CD leg with strong upward momentum, steadily pushing prices higher.
If the Cypher pattern plays out as expected, the next major target is point D, aligning with the 78.6% Fibonacci retracement of the X to C move — sitting around $100.58. From the current price of $76.31, this would represent a potential upside of about 32%.
What’s Next for QNT?
QNT is now approaching a critical resistance zone during this CD leg — an area that could either trigger profit-taking or, if bulls remain strong, fuel a sharp breakout higher.
Before it can target point D, QNT needs to overcome the first major hurdle around $79.00, which coincides with the 0.382 Fibonacci retracement level. A clean breakout above this zone could provide the momentum needed to sprint towards the final Cypher target near $100.58.
On the technical front, the setup looks promising:
- MACD: A bullish crossover is currently active, signaling growing buying pressure and supporting further upside movement.
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