Quant’s native token, QNT, has emerged as one of today’s top-performing altcoins. Its price has climbed 6% even as the broader market struggles.
The move has sparked renewed bullish interest, with on-chain data pointing to more potential upside in the sessions ahead.
Quant Token Rallies With Growing Trader Confidence
QNT’s gains over the day have been accompanied by an uptick in its futures open interest, signaling that traders are increasingly entering new positions rather than exiting existing ones. According to Coinglass, this currently stands at $29.13 million, up 7% in the past 24 hours.
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Open interest refers to the total number of outstanding futures contracts that have not yet been settled. It serves as a key gauge of market activity and trader participation, so when it rises alongside a price increase, it indicates that new money is flowing into the market, strengthening the trend.
For QNT, this indicates growing confidence among its traders that the current bullish momentum has room to continue.
Further, QNT’s liquidation heatmap highlights a concentration of liquidity sitting above current levels at around $103.
Liquidation heatmaps are visual tools traders use to identify price levels where large clusters of leveraged positions are likely to be liquidated. These maps highlight areas of high liquidity, often color-coded to show intensity, with brighter zones representing larger liquidation potential.
Such zones are often described as “price magnets,” drawing spot and derivatives activity toward them as traders seek to exploit potential squeezes. This setup suggests that QNT may continue its upward trend toward the liquidity cluster, provided market momentum holds.
QNT’s Uptrend Gains Steam
On the daily chart, QNT’s Chaikin Money Flow (CMF) indicator is trending upward, supporting the case for a sustained rally. As of this writing, this momentum indicator is at 0.02.
The CMF measures the flow of capital into and out of an asset by analyzing price and volume. A surging CMF like this reflects increasing buy-side pressure, strengthening the case for sustained bullish action for QNT.
If demand remains high, it could trigger a breach of the resistance at $101.87 and climb toward $107.68.
However, failure to sustain momentum may leave QNT’s price vulnerable to profit-taking, especially if broader market weakness deepens. In this scenario, it could reverse its current trend and fall to $85.37.
