The past week has been quite turbulent for the trending altcoin QNT, whose price ultimately increased by an additional 130%.<\/p>\n
Cardano\u2019s native token has also performed well lately, but certain factors suggest it may soon head south. Meanwhile, SUI has risen by 17% over the last seven days, with prevailing predictions that it could enter a full-blown bull run in the near future.<\/p>\n
In mid-September, the token was worth around $60, yet a combination of bullish elements triggered a massive rally. The main catalyst was\u00a0the announcement that The Clearing House (which operates payment networks that process over $2 trillion each day) selected<\/a> Quant to power its On-Chain Money Initiative.<\/p>\n At one point, QNT exploded to a five-year high of nearly $370, yet the bulls could not sustain the momentum, and it currently trades around $235. That still represents a stunning 300% jump over two weeks.<\/p>\n Despite the evident reversal from the local peak, the coin remains the subject of bullish price predictions. Ali Martinez outlined<\/a> $430 as a key resistance level, which sits at the top of a certain channel. In his view, a decisive breakout above could result in a parabolic expansion toward $2,000.<\/p>\n On the other hand, the popular trader Doctor Profit recently cashed out<\/a> his entire position in the token, claiming the environment is not comfortable.<\/p>\n \u201cI respect everyone\u2019s decision, but I prefer to be transparent about mine. Even if I sold early and it goes higher, I\u2019m happy with my decision,\u201d he concluded.<\/p>\n The asset had a successful September, recording a 25% jump and surpassing $0.25. Nonetheless, Martinez pointed out<\/a> several elements, including the recent whale activity, that could trigger a price retreat.<\/p>\n Large investors have offloaded 90 million units (worth over $22 million) since September 20. Moreover, the Tom DeMark Sequential indicator flashed a sell signal on ADA\u2019s daily chart on September 26, while open interest fell 9% in a week.<\/p>\n The analyst focused on $0.24, calling it key mid-range support. He thinks a break below this level could lead to a further drop to $0.21, while holding above it could offer the next buying opportunity, targeting the channel top near $0.28.<\/p>\n The altcoin currently trades around $1.18, up 15% for the week, and has a market capitalization of almost $5 billion. A few days ago, Martinez suggested<\/a> that it is on the verge of printing a new golden cross, with the 50-day moving average starting to cross the 200-day MA. According to him, this is a major bullish signal that could mark the beginning of a long-term rally toward $4.<\/p>\n Earlier today (October 2), he commented on the token again, saying SUI has developed an interesting pattern over the past few weeks. The analyst noted<\/a> that since September 12, the price has repeatedly consolidated within parallel channels before breaking higher.<\/p>\n \u201cThis sequence has already played out three times: consolidation, breakout, consolidation, breakout. Now, SUI appears to be building another parallel channel. The key level I\u2019m watching is $1.27. An hourly close above it could confirm another bullish breakout and potentially mark the beginning of the next leg higher,\u201d he concluded.<\/p>\n The post Major Quant (QNT) Volatility, Important Cardano (ADA) Price Warning, and More: Bits Recap October 2<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The past week has been quite turbulent for the trending altcoin QNT, whose price ultimately increased by an additional 130%. Cardano\u2019s native token has also performed well lately, but certain factors suggest it may soon head south. Meanwhile, SUI has risen by 17% over the last seven days, with prevailing predictions that it could enter […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-235010","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/235010"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=235010"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/235010\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=235010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=235010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=235010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ADA Pullback on the Way?<\/h2>\n
SUI\u2019s Potential<\/h2>\n