Quant (QNT) is showing signs of a classic bullish pennant pattern, a chart formation often signaling a continuation of a prior uptrend. 

According to the crypto analyst Javon Marks, as of Sunday, March 15, following a strong rally, the price has entered a tight consolidation phase, forming a triangle-like structure. Traders see this as a setup for a potential breakout that could drive significant gains.

Source: Javon Marks’ X Post

If QNT breaks above the pennant, the first key target sits above $360, implying a massive 360% potential upside from current levels. 

That’s more than 4.5 times the current price. While promising, market volatility remains a risk, making careful strategy essential. 

Javon Marks remains watchful, noting this could be one of the most compelling breakout opportunities in altcoins today.

Also Read: Quant (QNT) Slips Below $66 as Selling Pressure Mounts Amid Weak Momentum

Quant (QNT) Price Faces Pressure Below Key EMAs

According to TradingView, QNT is showing an underlying bearish trend, as the price continues to be suppressed by all key exponential moving averages. 

The 200-day EMA, priced at 79.36, acts as an impenetrable barrier, and the 20-day and 50-day EMAs are converging close to current price levels. The asset is currently in consolidation after the liquidity flush in February.

Source: TradingView

The price is currently testing the 50-day EMA resistance at $67.48. Although the decreasing Bollinger Bands are indicating a near-term surge in price volatility, the secondary resistance for bulls comes in the form of the 100-day EMA resistance at $72.26. Failure to sustain this current price bounce will result in a retest of the price floor at $61.36.

Momentum Indicators Point to Decreasing Pressure

The RSI (14) is currently at 53.47, moving slightly above the neutral 50-line. This shows that there has been a transition from the previous bearish control to a slight bullish bias. 

Since the RSI has moved above its signal line, which is at 45.54, this shows that the current consolidation pattern may lead to a gradual rise.

Source: TradingView

The MACD indicator is showing a bullish crossover, where the blue MACD line is rising above the orange signal line. The current reading of the MACD is at 0.47233, where the histogram is rising into positive green territory. 

This indicates that the selling pressure is weakening, and the asset is trying to form a new trend after the price lows in February.

Also Read: Quant QNT Plunges 4.6%: Analysts Eye $82.50 Recovery Target