Quant Price Climbs 3% After Losing Half Its September Gains

A round trip to the golden pocket

QNT’s September surge carried it from a base near $55.6 to a spike high near $373, a gain of roughly 570%. At Sunday’s intraday low of about $177.9, the pullback had retraced about 61% of that rally, right at the 0.618 level, before buyers pushed price higher while the token is still holding above all three of its daily moving averages despite the slide..

In Fibonacci terms, that is a test of the golden pocket, the zone between the 0.618 and 0.65 retracements of a move and one traders often watch during deep pullbacks within a trend. On this chart, it runs from about $167 to $177.

The 50-day SMA backs up the pocket

Just beneath the pocket, the 50-day SMA sits near $162 and is climbing steeply after the rally. Together, the two form a demand zone from roughly $162 to $177, and as long as QNT holds above it, the breakout structure built in September stays valid.

Levels on the map

Here is where the key levels sit relative to the...