Bearish traders are slowly squeezing out all profits gained in the past few days, indicating the market is approaching the peak of consolidation. Consequently, some altcoins have started to show bullish breakouts. Quant has reached the end of its consolidation phase, setting the stage for a breakout. Meanwhile, Arweave is maintaining a healthy upward momentum by holding support for over a week. Will these altcoins sustain their bullish momentum until the end of the month, or will they consolidate within a narrow range?
Quant (QNT) Tests Key Resistance
Quant's price has been in a significant downtrend since being rejected in the final days of Q1. Trading volume has remained average, indicating low trader participation. However, after extreme compression, the price initiated a strong rebound from the lower support of the wedge pattern, with recent momentum potentially helping it break the resistance.
The token has continuously formed lower highs and lows, showcasing the increasing strength of bearish forces. The recent rebound, driven by increased buying pressure, suggests a trend reversal. Additionally, the MACD level experienced a bullish crossover with a slight increase in buying volume. Therefore, QNT's price is expected to break out of consolidation. If it can maintain the $83.5 level, the local resistance at the beginning of Q3 could be very bullish, enabling a rebound to test higher targets.
Arweave (AR) Prepares for a 30% Surge
Since a 500% price increase at the start of Q1, Arweave's price has remained strong at the neckline of the gains. The token has accumulated small gains for several consecutive days, indicating a potential significant breakout. However, traders' attention seems to have not yet shifted to the token, keeping its gains within a range.
AR's price indicating bullish presence. The RSI has risen from the lower limit, signaling a slight increase in buying pressure. Additionally, the OBV (On-Balance Volume) indicator reversed upon testing the lower limit, suggesting the price is preparing for a significant surge, potentially reaching $30 by the end of the month.
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