Altcoins
Quant (QNT) and Arweave (AR) prices skyrocket!
Bears are slowly squeezing all the profits they have made in the past few days, indicating that the markets are approaching the peak of the consolidation. Therefore, some altcoins have already started a bullish breakout. Quant has reached the end of the consolidation and thus a breakout was pre-programmed. Meanwhile, Arweave is trying to maintain a healthy recovery by holding support for over a week. Will these altcoins remain bullish until the end of the monthly trading or will they remain consolidated in a tight range?
Quant Test (QNT) Crucial resistance
The quantitative price has been stuck in a broad declining range after suffering a rejection in the last days of Q1. Volume has remained within average levels, indicating less involvement from traders. However, after suffering extreme compression, the price has triggered a huge bounce from the lower support of the wedge and a final push could help the price break the resistance of the pattern.
The token has been forming steady highs and lows, showing the growing strength among the bears, while the latest bounce, which was fueled by a huge growth in buying pressure, indicates a trend reversal. Furthermore, MACD levels underwent a bullish crossover with a slight increase in buying volume. As a result, QNT price is expected to outperform the consolidation. However, if it manages to hold levels at $83.5, local resistance at the start of Q3 could be extremely bullish, allowing the rally to test higher targets.
Arweave (AR) Prepare for a 30% recovery!
Since the price started a 500% increase in Q1, Arweave price has been holding strong along the neckline above the gains. Furthermore, the token has been accumulating small gains for over a couple of days, which suggests that a major breakout could be on the horizon. However, traders’ attention does not seem to have shifted to the token, so the upside has remained range-bound.
As seen in the above chart, AR price is moving along the crucial lower support zone, showing the presence of bulls. RSI has risen from the lower threshold, indicating a slight increase in buying pressure. Also, OBV (on-balance volume), which is a volume-based indicator, has flipped when it was about to test the lower range. This indicates that the price is preparing for a significant increase and to reach $30 by the end of the month.