Price Analysis

Altcoins to Watch This Week! ADA, LINK & QNT Could Be the Best Bet 

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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Aug 8, 2022

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Article Highlights
  • As Bitcoin prices are ranging high, the altcoins also follow the suit and testing their respective resistance levels

  • Popular assets like Cardano, Chainlink & Quant may thrive hard and surge highs by the end of the week

Cardano (ADA)

Cardano price breaks out from the bearish descending triangle and displays a high tendency to propel high. However, the breakout is still not confirmed as the bears are utilizing all their resources to keep the price restricted below $0.55. However, a clear breakout above certain levels may validate the uptrend ahead. 

adaprice

The ADA price currently has broken out of the triangle but due to the lack of buying pressure, the possibility of a fakeout appears pretty high. Therefore, a daily close above $0.57 may uplift the price beyond the reach of the bears and lay down a path towards the upper crucial resistance at $0.64.

Chainlink (LINK)

With the beginning of a bullish week, the Chainlink price also went significantly high. The asset broke out of the pattern and raised high, indicating the resurgence of a bullish trend. Therefore, the asset could be primed to surge more than 8% to 10% to reach a double-digit figure soon. 

link price

The LINK price currently has broken the symmetrical triangle much before reaching the apex of th triangle. Therefore, the rally could be more prone to shed most of the gains and re-enter the consolidation phase. Later the asset may maintain an accumulated consolidation through the week and quickly breakout after reaching the apex. 

Quant (QNT) 

Quant prices remained heavily depleted since the beginning of 2022 and reached lows close to $40 in the recent past. However, the asset quickly rebounded and surged significantly from the lows to reach the present levels close to $130.

qntprice

The QNT price has recorded consecutive green candles, with a sudden spike in the buying volume. Currently, the price appears to have reached the daily highs and a notable squeeze may be expected. Therefore, a minor pullback below $125 may induce a catapult action to propel high close to $150.

Collectively, the altcoins appear to be at a foothill of a notable upswing which could induce a significant bullish trend. As long as Bitcoin’s (BTC) price remains strong above $24,400, the possibility of a notable bull run appears high. 

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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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