Quant price retests key level: Can QNT breach $100 next?

  • Quant (QNT) price hovers near $88 after bouncing off $79.
  • The altcoin could eye the psychological $100 mark, helped by multiple likely tailwinds.
  • QNT has retested and broken above the 50-day exponential moving average.

Quant (QNT) changes hands near $88 after bouncing off lows of $79 and touching highs of $93, with QNT likely to target the psychological $100 mark.

With the latest market recovery lifting sentiment, the token’s retest of the key exponential moving average (EMA) could be critical for bulls.

Notably, the current price levels have previously hindered bulls’ attempts to break higher.

Quant price rebounds: Is $100 next?

Quant token’s price hovered near $88 after a rebound off lows of $79 allowed bulls to test bearish resolve above $93 on Thursday.

This swift recovery marks a more than 28% surge from November 4th’s nadir, when QNT fell to under $68. Gains point to the bulls’ resilience despite the broader market turbulence.

On Thursday, Quant rose as Bitcoin’s range-trading below $103,000 despite the end of the US government shutdown upending bullish moves across altcoins.

Nonetheless, analysts say crypto could be poised for a major bounce. In previous cycles when the US government has gone into shutdown, BTC has skyrocketed on reopening.

Crypto analyst Alex Wacy shared the outlook below.

QNT’s uptick thus aligns with not just renewed optimism in altcoins but projects focused on enterprise solutions.

In such a case, the rebound has seen so-called dino blockchains gain, including Lisk and Nano, record gains in recent weeks.

What’s the technical outlook for Quant token?

Long-term holders have injected fresh liquidity amid the broader uptick, and ecosystem strength helps bulls.

If the momentum sustains, decisively taking out bears above $93 will offer impetus for a surge to $100.

On the technical front, the short-term recovery has the Moving Average Convergence Divergence (MACD) hinting at a potential bullish crossover.

On the daily chart, the MACD histogram has flipped positive.

Quant Price
Quant price chart by TradingView

Also notable is the daily Relative Strength Index (RSI), currently near 57 and upsloping.

QNT is also currently above the 50-day EMA, with the moving average level having acted as robust resistance since Nov. 5.

If bulls flip this into a dynamic support zone, holding firm above it will allow for a continuation.

North of this hurdle lie $107 and $130 as two immediate supply wall zones.

That means QNT’s confluence of rebound momentum, institutional tailwinds, and technical strength positions it for a potential run above the $100 mark.

Unless macro headwinds prevail, the next key levels to target will be December 2024 highs of $165 and local resistance around $200 seen in 2021.

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JPMorgan sees limited downside for Bitcoin, upside potential toward $170,000

  • JPMorgan sets Bitcoin’s support price near $94K, citing rising mining costs.
  • Analysts project Bitcoin could climb to $170K based on gold market parity.
  • Bitcoin’s downside seen as limited after network difficulty raises production cost.

JPMorgan analysts said Bitcoin’s downside risk appears to be minimal at current levels, citing the cryptocurrency’s rising production cost as a key technical support.

In a note published Wednesday, the bank’s team led by Nikolaos Panigirtzoglou, managing director at JPMorgan, placed Bitcoin’s estimated support price around $94,000, suggesting the cryptocurrency has limited room to fall from its recent level of roughly $102,300.

Rising production costs set new support level

According to JPMorgan, the estimated cost to produce one bitcoin — often viewed as a proxy for the cryptocurrency’s “floor” price — has risen from about $92,000 to approximately $94,000.

This increase, the analysts said, is largely driven by a sharp rise in Bitcoin network difficulty, which measures how much computing power is required to mine new blocks.

As network difficulty climbs, miners must deploy more energy and hardware resources to maintain output, effectively increasing the marginal cost of producing new coins.

The analysts noted that Bitcoin’s price-to-production cost ratio now sits just above 1.0, placing it near the lower end of its historical range.

“The bitcoin production cost has empirically acted as a floor for bitcoin,” the analysts wrote, adding that “a $94,000 production cost implies very limited downside to the current bitcoin price.”

Historically, production costs have correlated closely with Bitcoin’s longer-term valuation trends, as mining profitability often influences both network participation and supply dynamics.

The current alignment, JPMorgan said, supports the view that downside risk is constrained unless broader market sentiment deteriorates further.

Upside scenario points to $170,000 target

While downside appears limited, JPMorgan reiterated its 6–12 month upside projection of about $170,000 for Bitcoin, based on a volatility-adjusted comparison to gold.

The analysts explained that Bitcoin currently consumes around 1.8 times more risk capital than gold, implying that its market capitalization could rise substantially to reach parity with gold’s level of private-sector investment.

At present, Bitcoin’s market cap stands near $2.1 trillion, while approximately $6.2 trillion is invested in gold via exchange-traded funds, bars, and coins.

“On that basis,” the note said, “Bitcoin’s market capitalization would need to rise by about 67%, implying a theoretical price close to $170,000.”

The analysts said this valuation framework reflects long-term potential rather than a near-term forecast.

Market sentiment, regulatory conditions, and liquidity factors will continue to influence how quickly Bitcoin might approach such levels.

Market context and sentiment shift

Last month, JPMorgan’s analysts issued a similar analysis, calling Bitcoin undervalued relative to gold and suggesting a possible year-end target around $165,000.

However, in a Block report, Panigirtzoglou said that recent liquidations and negative market sentiment made such a near-term rally unlikely.

Earlier in August, the same team projected a year-end target of about $126,000, which Bitcoin briefly surpassed on October 6, hitting an all-time high above $126,200 before a major liquidation event on October 10.

Despite recent volatility, JPMorgan’s latest note underscores a cautiously optimistic outlook.

With network fundamentals strengthening and production costs rising, analysts view current prices as near structural support levels — leaving room for long-term appreciation if broader market confidence returns.

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