Altcoins
Quant (QNT) and Arweave (AR) Prices Soar!
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 (QNT) Test of Crucial Resistance
The quant price remained stuck in a wide descending range after experiencing a rejection in the final days of the first quarter. Volume remained within average levels, indicating less trader involvement. However, after undergoing an extreme squeeze, the price has triggered a huge bounce from the wedge’s lower support and a final push could help the price breach the pattern’s resistance.
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) Getting ready 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 minor gains for over a couple of days, which suggests that a major breakout could be on the horizon. However, trader attention does not seem to have shifted to the token, so the recovery has remained range-bound.
As seen in the chart above, the AR price is moving along the crucial lower support zone, showing the presence of the bulls. The RSI rose from the lower mark, indicating a slight increase in buying pressure. Furthermore, the OBV (on-balance volume), which is a volume-based indicator, capsized when it was about to test the lower range. This indicates that the price is preparing for a significant increase and reaching $30 by the end of the month.