JThe crypto space appears to be gearing up for a bearish weekend as most assets are poised for significant declines. The price of Bitcoin is currently hovering around $20,500 and the global crypto market cap has also seen some slight growth which may maintain bullish momentum. Therefore, some altcoins like QNT, BNB, RUNE, etc. should maintain a strong uptrend ahead.
- The QNT Price sparked a strong rally since July trade began and gained over 103% to mark monthly highs above $110
- However, the asset has plunged more than 15% since the first hours of trading as the bulls still look well positioned.
- Due to extreme downside pressure, the bull is likely to remain passive over the weekends and soon come into action when the asset hits the lower support
- With a noticeable rebound from $89 or $90, Quant price could regain the levels above $100 and continue its rally to reach $120 next week.
Chain of Thor (RUNE)
- Thor Chain Price since the beginning has maintained a noticeable downward trend forming consistent lows and highs
- The asset should consolidate throughout the weekend and prepare to instil strong bullish momentum
- Mid-week, prices should rebound finely from around $2 and establish a bullish path towards $6
- Once these levels are crossed, the asset may rise further to test the resistance above $8 and face a dismal rejection before testing $10.
- The VET Awards has witnessed some steep price declines that have drained over 60% since the May crash and over 76% since the 2022 highs
- The downtrend was fueled by a few bearish flags, however, the asset refused to dip after forming a bearish flag
- And therefore, the price may continue to consolidate throughout the weekend and reach the top of the consolidation
- As the bearish flag cannot force the price down, the descending triangle may also not force the price down. Therefore, a sharp break above $0.03 seems imminent.