Price Analysis

Altcoins For the Coming Week: QNT, RUNE & VET  Price May Fly High

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Jul 17, 2022

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The crypto space appears to be preparing for a bearish weekend as most of the assets are on the verge to experience a significant drop. The Bitcoin price is currently swinging around $20,500 and the global crypto market capitalization also has witnessed a slight growth that may keep up a bullish momentum alive. Therefore, some altcoins like QNT, BNB, RUNE, etc are expected to maintain a strong bullish trend ahead. 

Quant (QNT) 

ont
  • The QNT price ignited a strong upswing ever since the beginning of the July trade and gained more than 103% to mark monthly highs beyond $110
  • However, the asset has plunged by more than 15% since the early trading hours while the bulls still appear to be well positioned
  • Due to extreme bearish pressure, the bull is expected to remain passive during the weekends and soon jump in action as the asset reaches the lower support
  • With a notable rebound from $89 or $90, the Quant price may regain the levels above $100 and continue with the upswing to reach $120 in the upcoming week

Thorchain (RUNE)

rune
  • Thorchain price since the beginning has maintained a notable descending trend forming constant lower lows and highs
  • The asset is expected to consolidate throughout the weekend and gear up to inculcate a strong bullish momentum 
  • By the mid-week, the prices are expected to rebound finely from around $2 and set up a bullish path towards $6
  • Once these levels are broken, the asset may further surge to test the upper resistance at $8 and woefully face rejection before testing $10

VeChain(VET)

vet
  • The VET price witnessed a couple of hefty price slashes that drained more than 60% since the May crash and by more than 76% since the 2022 highs
  • The descending trend was fuelled by a couple of bearish flags, however, the asset refused to plunge after forming a bearish flag
  • And hence the price may continue consolidating throughout the weekend and reach the apex of the consolidation
  • As the bearish flag could not drag the price lower, the descending triangle may also not compel the price to trade lower. Therefore, a clear breakout beyond $0.03 appears imminent

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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