#Quant price forms a rare pattern: 70% surge is likely#

Quant Network further rallied after being named among a group of companies assisting the European Central Bank in developing a digital euro. There is optimism that the ECB may also adopt Quant’s Overledger solution. Overledger is a blockchain-agnostic operating system that enables interoperability between blockchain networks and traditional systems.

Quant’s price may also benefit from the development of Fusion, a framework designed to secure assets, data, and logic across both public and permissioned distributed ledgers.

Fusion’s Devnet launched last week, with the testnet scheduled for release this month. The mainnet is expected “within months,” to be followed by the mainnet+.

Meanwhile, on-chain data shows that the supply of QNT tokens on exchanges has dropped to 1.64 million, its lowest level since May 25, a sign that investors are moving their tokens into self-custody wallets.
Quant price technical analysis 📈
The daily chart indicates that QNT bottomed at $59.25 in April and rebounded to $120 in June. It has formed a cup-and-handle pattern, characterized by two distinct swings and a rounded bottom. The recent retreat represents the handle portion of this formation.

The distance between the cup’s upper and lower bounds is approximately 50%. Projecting this same distance from the upper boundary points to a potential rally toward $180, representing a 71% gain from the current level. However, this bullish forecast would be invalidated if the token drops below the support level at $85.78
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