Quant: Can profit-taking derail QNT crypto’s push toward $330?

Still, this recovery shows that there are still many buyers active in the market. However, the $300 area is becoming an important testing ground for these buyers.

At the same time, the RSI stood at 68.04, indicating that bullish momentum remained elevated despite cooling from earlier overbought conditions. After previously recording readings above 80, $QNT could still see another push higher before profit-taking activity intensifies.

Dormant wallet moves $6.97M in $QNT

Quant’s recent momentum is now facing a new supply issue with the entrance back onto the market of a dormant founder’s wallet. The wallet had been inactive for approximately seven years but recently moved 25,776 $QNT worth roughly $6.97 million to new wallets.

This movement represents the first time this wallet has been active since it became dormant. The fact that the tokens were transferred to new wallets raises several questions regarding the holder’s motivation after the price explosion on $QNT.

However, the fact that the tokens did not move to a centralized exchange indicates that there may be no immediate intention by the holder to sell those tokens.

The larger concern comes from the wallet’s balance of 600,000 $QNT, worth $160.39 million. If more of that balance moves toward exchanges, traders could anticipate additional supply and become more cautious.