thecryptobasic.com
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Quant ($QNT) is approaching a decision point over the next two to three days as a triangle pattern moves toward a breakout or breakdown.
Technical analyst @MWi_EW on X says $QNT price has followed his expected path so far, bouncing from the 0.786 Fibonacci retracement level.
In a post on X, the analyst said $QNT had reached the 0.786 level and bounced, keeping the bullish outlook intact. However, the triangle is now close to a breakout point, making the next price move critical.
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He has also identified $287 as the key level $QNT needs to reclaim before the next major rally gets underway.
$QNT is trading inside a triangle pattern on the two-hour chart. The pattern is defined by a downward-sloping resistance line and an upward-sloping support line.
The upper trendline has repeatedly capped $QNT’s upside, while the lower trendline continues to provide support at progressively higher levels.
As the two trendlines converge, $QNT’s trading range continues to tighten. This setup puts the cryptocurrency directly in position for a sharp move once the triangle breaks.
The chart marks $245.84 as the 0.618 Fibonacci level and $223.84 as the 0.786 level. $QNT recently bounced from the lower Fibonacci level, preserving the bullish structure. The next confirmation comes from a break above the descending resistance line.
The analyst has also identified $286.88 as a critical price level. A move above $286.88 followed by sustained trading above it would signal that buyers are regaining control.
On the downside, a break below the rising support line would weaken the bullish structure and expose $QNT to lower levels. The previous low around $196 remains the major downside level to watch.
MWi_EW’s latest update builds on his October 1 analysis, when he said $QNT needed to reclaim $287 and turn the level into support.
At the time, Quant had been rejected at $287, preventing the price from extending higher. Despite that rejection, the analyst maintained that the bullish setup remained intact as long as $QNT stayed inside the two-hour triangle.
In a September 29 post, he said a break above $287 would trigger the next upward move. He also warned that a move below the two-hour EMA would weaken the setup. A drop below $196 would invalidate the bullish outlook outlined in his analysis.
For now, $QNT remains above the key downside level but has yet to reclaim $287. The next major bullish confirmation therefore remains a sustained move above $287.
If $QNT price breaks above the triangle and reclaims $287, MWi_EW’s chart points to higher levels around $409.18 and $475.01. Reaching them requires $QNT to clear several resistance levels along the way.
$QNT recently surged from roughly $65 in mid-September to about $373 on September 27, representing a gain of 474% in around two weeks. The subsequent pullback also demonstrated how quickly $QNT can reverse after an aggressive rally.
The triangle has two clear outcomes: an upside breakout or a downside breakdown. A break below the rising support line would weaken the bullish structure and put the $223.84 Fibonacci level into focus.
Continued selling would bring $196 into focus as the critical downside level. A break below $196 would invalidate the bullish setup described by the analyst.
Right now, $QNT is inside the triangle, with the price action approaching a key inflection point. The next two to three days are critical for determining whether $QNT breaks higher or resumes its decline.
