Quant Slumps 50.5% as Binance Hack Triggers Broad Market Selloff
Key Summary
Quant [QNT] plummeted 50.5% from its September high of $373, trading near $178.80 as broader crypto markets absorbed a historic $6.30B security breach at Binance.
Key Bullets
- Quant dropped 50.5% from a September high of $373 down to key Fibonacci support levels near $178.80 on daily charts.
- Order-book data monitored by AMBCrypto showed Bitcoin breaking under the $80,000 threshold during the widespread selling panic.
- Technical oscillators confirmed the daily RSI dipped below the neutral reading of 50.00 while the OBV indicator remained balanced.
- Trading desks noted that a confirmed daily close below $173.56 risks pushing the asset toward the deeper $126.00 support target.
Quant Token Plummets Fifty Percent
Quant [QNT] plunged 50.5% from the $373.00 high recorded on 27th September, breaking through structural floors as panic selling gripped spot exchanges. Public order-book telemetry confirmed the token breached key technical supports near $223.00 and $200.00 during the active session. Broad market exposure worsened when news broke regarding a security breach at Binance involving an estimated $6.30B in stolen digital assets. The unprecedented exploit sent shockwaves across derivative venues, forcing automated liquidation engines into overdrive. Liquidity vanished.
Bitcoin [BTC] lost the critical $80,000 threshold during the fallout, dragging the wider altcoin sector down in tandem. According to technical price data published by AMBCrypto, the daily chart structure remains firmly bearish. The 61.8% Fibonacci retracement level at $178.80 is holding as an interim floor. Traders pulled bids.
Fibonacci Retracement Levels Tested Daily
Trading desks are closely monitoring the $173.56 local low established earlier in the month as bearish pressure continues to mount on spot order books. Price action verified that a confirmed daily session close beneath this immediate threshold opens the path toward the 78.6% Fibonacci retracement target at $126.00. Swing positioning on higher timeframes shows persistent selling overhead. Order books thinned out.
Internal chart formations on the 4-hour timeframe presented a brief bullish shift when quotes pushed past the $212.87 resistance boundary earlier in the week. That counter-trend momentum stalled quickly near the $180.00 handle. Technical readings show the RSI hovering below the neutral 50.00 line while the OBV remains deadlocked between aggressive buyers and defensive sellers. Volatility spiked instantly.
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