Hedera (HBAR) and Quant (QNT) Forecasts Unveiled, Alongside Rising Altcoins LPX and XRP20
In the ever-evolving world of cryptocurrencies, the insights of seasoned trader and analyst Jacob Bury have caught the attention of investors and enthusiasts alike. Bury’s predictions shed light on the potential trajectories of two significant tokens, Hedera (HBAR) and Quant (QNT), offering a glimpse into potential market dynamics. As these tokens experience interesting price movements, a rising duo of alternative tokens, LPX and XRP20, are also making waves in the crypto sphere.
Hedera (HBAR) Price Exploration
Hedera (HBAR), currently ranked 31st by market capitalization, has recently been a focus of market attention due to its notable price surges. With a 0.21% increase over the last 24 hours, HBAR is priced at $0.0560. This upward momentum is projected to continue as buying pressure strengthens, showcasing a remarkable 4.05% increase over the past week.
The recent price surge in HBAR can be attributed to the execution of profit-taking orders from short traders, particularly around the $0.0560 level, which aligns with the 100-day Exponential Moving Average (EMA). This positive trend reflects HBAR’s resilience in recovering from recent market fluctuations.
Bury emphasizes the importance of the 100-day EMA level, which has played a vital role in supporting the coin during a dip caused by profit-taking among long traders. Successfully defending this level has led to increased buying pressure and an ongoing bullish trend.
As HBAR faces a critical challenge at the 50-day EMA level of $0.0572, traders are closely observing this juncture. A confident closure of a 3-hour candlestick above this level could potentially trigger a 5% rally towards the supply zone above. However, this supply zone also invites cautious selling, which could influence HBAR’s momentum.
Bury points out that surpassing this supply zone might pave the way for a new support level, signifying a positive shift. Conversely, if stronger selling pressure prevails, a potential decline could see HBAR touching the 200-day EMA at $0.0545.
Despite the optimism, Bury acknowledges the potential influence of technical indicators. An RSI below 50 and a negative MACD zone raise questions about sustained momentum. Nevertheless, HBAR’s recent surge has sparked insightful conversations in the crypto community.
Quant (QNT) in the Spotlight
Trading at $101.61, Quant (QNT) maintains a 24-hour trading volume of $10,526,232. With a market capitalization of $1,226,856,790, QNT’s value experienced a slight decline of 0.05% over the past day.
Bury notes that QNT, like many cryptocurrencies, has encountered price fluctuations in recent times. Amidst short-term price drops, the potential for future upward movements remains intact. A technical analysis reveals potential support levels ranging from $97.20 to $88.10, providing trading opportunities.
The presence of the 7-day Exponential Moving Average (EMA) as a support floor adds an element of stability against further price dips. If this primary support level holds strong, QNT’s price might find additional support at the 7 EMA, potentially leading to a rebound.
Bury highlights the RSI at 49.82, indicating a balance between market forces. A rise above 70 in the RSI, accompanied by price support, could set the stage for a resurgence. Taking these factors into account, QNT’s ability to recover from its support level and potentially reach its prior resistance of $113.10 appears feasible.
Exploring the Altcoin Landscape: LPX and XRP20
Beyond the spotlight on HBAR and QNT, the cryptocurrency realm introduces alternative tokens with their unique narratives. LPX and XRP20 emerge as intriguing contenders, each carrying distinctive propositions within the crypto landscape.
LPX seeks to redefine established norms, offering an innovative perspective that challenges the status quo. On the other hand, XRP20, building upon the Ripple XRP legacy, introduces novel features like token burning and staking, contributing to its unique identity within the market.
As the crypto market evolves, the emergence of tokens like LPX and XRP20 reminds us of the continuous innovation that shapes the industry’s landscape. While HBAR and QNT remain subjects of analysis, the crypto world’s unceasing potential for novel possibilities keeps the industry vibrant and captivating.
Note: The insights provided in this analysis are for informational purposes only and should not be construed as financial advice or endorsements.
Post Views: 182
