QF Network Climbs 11.15%, Holding Key Support as Price Approaches Resistance
- QF Network trades at $1.99 after a 12.1% daily gain, with volume up 11.62% to $177,440.
- Price broke over a long-term trendline close to 0.79 and then surged above 2.00.
- Major support would be at 1.80 with resistance at 2.20 following recent highs above 2.10.
QF Network’s token price has regained the $2.00 mark following a significant upward move in recent trading sessions. At the time of writing, QF trades at $1.99, marking a 12.1% gain over the past day. The move comes after a consolidation period near $1.80, where price held above a previous breakout zone. According to market data, the asset’s market capitalization stands at $19.93 million, with a fully diluted valuation matching the same figure.
The 24-hour trading volume has risen by 11.62% to $177,440, reflecting increased participation during the latest advance. QF’s circulating and total supply both remain at 10 million tokens, while the holder count is recorded at 6,610 addresses.
Breakout Above Long-Term Trendline
On the daily chart, QF recently moved above a descending trendline that had been in place since late 2024. The breakout occurred near the $0.79 level, followed by steady accumulation before the sharp rise in early August. Price then surged past the $1.80 resistance area, turning it into a support zone. The rally extended above $2.10 before pulling back slightly to current levels.
Key Support and Resistance Levels
The $1.80 area now serves as immediate support and has shown buying interest during minor pullbacks. Beyond the current price, the next significant resistance is at around the $2.20 level, where the market was rejected earlier on in the week.
According to the historical price action, there is not much consolidation between 2.20 and 2.80, indicating less friction on the part of buyers as long as they maintain the momentum. Nonetheless, the recent volatility suggests that there is still life in support and resistance levels.
Market Structure and Volume Dynamics
Since the breakout, trading has been confined to $1.80 to $2.20. The increase in volume in the last 24-hour matches the upward trend in prices. This volume-to-market cap ratio, currently at 0.8901%, points to moderate turnover relative to the token’s valuation.
The market’s reaction to the $2.00 level will determine whether price holds in the upper range or reverts to prior consolidation. The current chart structure reflects a clear break from the prolonged downtrend, with the $0.79 breakout area acting as the origin of this move.
