CELO, QNT Prepared to Change Things for the Better
- Discover Crypto said CELO and QNT’s fundamentals and community could drive the prices higher.
- Higher volatility alongside buying pressure could push CELO above $1.
- QNT’s 4-hour chart displayed a golden cross that could lead it to $120.
According to the Discover Crypto YouTube channel, Celo (CELO) and Quant (QNT) are two altcoins that have not reached their full potential and might be ready to do so in the coming week.
However, the channel did not come to this conclusion without giving its reasons. For CELO, Discover Crypto noted that its volume has been surging compared to what it was some months back. The increase in volume suggests, rising interest in the project. If this continues, CELO’s price could jump.
In QNT’s case, the channel focused on the fundamentals. According to them, Quant’s place as an enterprise solution for financial institutions makes it a project whose token could experience high demand. They also noted that QNT has a strong community which could help drive a rally.
Celo (CELO)
The 4-hour CELO/USD chart showed that the cryptocurrency experienced inconsistencies despite its price increase. At press time, CELO’s price was $0.97. However, a look at the Aroon indicator revealed that bulls and bears seemed to be at war concerning the side to control the price action.
As of this writing, the Aroon Down (blue) was 71.43% while the Aroon Up (orange) was 64.29%. A position like this suggests that CELO could end up consolidating. If bulls eventually take control, CELO’s price might hit $1.
On the other hand, bearish dominance could force a decline below $0.85. Furthermore, Coin Edition evaluated the Bollinger Bands (BB), which indicated a dearth of price fluctuations. With the BB condition, CELO’s price might not experience a massive hike soon. However, if volatility spikes going forward, the token value might extend much higher than $1.
Quant (QNT)
QNT’s 4-hour chart mirrored a situation where bears were pulling back the upswing at any given opportunity. However, QNT was inches away from hitting $115. At press time, the 9 EMA (blue) had crossed over the 20 EMA (yellow), indicating a bullish short-term bias.
As long as QNT stays above the golden cross ($104.43), the price could rise higher. Conversely, if the 20 EMA flips the 9 EMA, the bullish thesis could be invalidated. In this case, QNT’s price might retrace close to $100.
In a highly bullish scenario, QNT’s price might rally above $120. However, a downward reversal remains an option in the short term. Meanwhile, the long-term potential for the token looks bright if the aforementioned fundamentals remain relevant.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Comments
Post a Comment