Filecoin

Quant

Date: Sat, Dec 21, 2024, 05:10 AM GMTThe cryptocurrency market has shown signs of recovery after experiencing a sharp correction following the December 17 Fed meeting. Bitcoin (BTC) dropped to $92,000 but has since rebounded above $98,000, providing relief to the market. Altcoins such as Filecoin (FIL) and Quant (QNT) are benefiting from this recovery, bouncing back from their recent lows.Both tokens recently achieved significant breakouts, with FIL gaining 23% and QNT surging 31% over the past month.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/804032081e29481a9e2a9eebfd939ae1.png" />Source: Coinmarketcap<h3 id="filecoin-fil">Filecoin (FIL)</h3>Filecoin (FIL) broke out from a Descending Triangle pattern that persisted for nearly two years. The breakout occurred on November 25, 2024, when FIL surged above its descending resistance trendline, pushing the price to a high of $8.42. This marked a significant milestone for the token, which had been struggling within the pattern for an extended period.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a5e12ab92f734db8b73ec64e24a14122.png" />During the market correction, FIL successfully retested the descending resistance line near the $5 level, which has now turned into a strong support zone. At the time of writing, FIL is trading at $5.38, holding above the key support level and showing potential for a further upward move.If the bullish momentum continues, FIL could aim to retest its recent high of $8.42, representing a potential 55% gain from its current price.<h3 id="quant-qnt">Quant (QNT)</h3>Quant (QNT) also experienced a breakout from a Descending Triangle pattern that had capped its price for nearly three years. The breakout took place on November 25, 2024, as QNT pushed above its long-standing descending resistance trendline, triggering a rally that saw the price reach a high of $171.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/10a0e66e642e4d24bc382113d9ab4e17.png" />Amid the market correction, QNT retraced to retest the descending resistance line near the $95 level. QNT has since rebounded and is currently trading at $116.If the current recovery sustains, QNT could look to revisit its recent high of $171, offering a potential upside of 48% from its present level.<h3 id="what-s-next-for-fil-and-qnt">What’s Next for FIL and QNT?</h3>Both Filecoin and Quant have demonstrated strength by successfully retesting their breakout levels and maintaining critical support zones. These technical signals suggest that the tokens are well-positioned for potential gains in the near term, especially if market conditions stabilize further.Bitcoin’s recovery above $98,000 provides a favorable backdrop for the broader market. However, sustained stability in Bitcoin’s price will be crucial for altcoins like FIL and QNT to capitalize on their breakout momentum. Investors should closely monitor market trends and resistance levels for these tokens as they continue to navigate this recovery phase.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/xrp-rebounds-following-whale-accumulation-in-recent-dip-whats-ahead/" rel="noopener noreferrer nofollow">XRP Rebounds Following Whale Accumulation In Recent Dip: What’s Ahead?</a>

Filecoin (FIL) and Quant (QNT) Making Retests Post-Major Breakouts: What To Expect Ahead?

Table of Contents

CoinsProbe

Other articles published on Dec 21, 2024

Chainlink Plans to Bring On-Chain Banking Innovation with CRE

2024 Crypto Goldmine: 3 Best Coins with 100X Potential to Secure Now

BTFD Coin Breaks Records as the Best Meme Coin Presale to Buy This Weekend as Book of Meme and CO...

182 Million XRP in 24 Hours, Here's What Happened

IOTA-styrd omröstning avslutad: Omlagt protokolluppgradering går framåt.

Israeli National charged by the US DOJ for collaborating with LockBit hackers

Join our free newsletter for daily crypto updates!