The analysis focuses on QNTUSD using Fibonacci retracements from August 2024 low to the December 2024 high, noting significant interactions at key Fibonacci levels. The price rejected the 38.2% Fibonacci level and used the 50% level as resistance. The analyst suggests the current price action indicates a likely local top and expects a move towards the 0.618 Fibonacci level (96.96) initially, followed by a potential further decline to the 0.702 Fibonacci level (86.78) and then down to 76.44. The analysis also presents a worst-case scenario, suggesting a potential drop to $51.12 (0.886 fib level) before bottoming out. The analysis invalidate the bullish scenario, considering what we have playing out, with a daily close above 110.94.