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These Two Altcoins Have Potential for Massive Gains

2 mins
Updated by Kyle Baird
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In Brief

  • There is a handful of altcoins that are showing potential for growth.
  • MATIC has broken out from a symmetrical triangle.
  • QNT has broken above a long-term descending resistance line.
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Despite Bitcoin’s relatively high market dominance as of late, there are still a handful of altcoins that are showing potential for growth.
Quant (QNT) has broken out from a long-term descending resistance line and validated it as support. MATIC is attempting to move above an important resistance level but has thus far been unsuccessful.

Matic Network (MATIC)

Cryptocurrency trader @CryptoMichNL outlined a MATIC chart, showing that the price has moved above a crucial resistance area and possibly validated it as support. He has given two resistance targets for further upward movement, found at 244 and 272 satoshis.
MATIC Price MOvement
Source: Twitter
At the time of writing, MATIC was trading very near important resistance levels. First, there is the long-term ascending support line, from which the price broke down on March 13. Currently, the price is directly under this resistance. Second, there is the 225 satoshis level which previously acted as support. This is also the 0.5 Fibonacci level of the previous downward move. Beyond this, there is also a strong resistance level at 250 satoshis, a previous resistance area as well as the 0.618 fib level.
MATIC Price MOvement
MATIC Chart By Tradingview
In the short-term, the MATIC price has broken out from a symmetrical triangle. In addition, the RSI has broken the bearish divergence trendline. This is a sign that the price is likely to move upwards towards the 250 satoshi resistance area outlined previously.
MATIC Symmetrical Triangle
MATIC Chart By Tradingview

Quant (QNT)

One other coin that has significant breakout potential is QNT. On March 30, the price broke out from a long-term descending resistance line that had been in place since February 2019. Afterward, the price returned in order to validate this line as support. If it begins moving upwards, as is customary, the closest resistance area would be found at 86,000 satoshis.
QNT Long-Term Breakout
QNT Chart By Tradingview
The price has also broken out from a shorter-term descending resistance line. The outlook from the daily chart is bullish. QNT has created a double-bottom inside the 50,000 satoshi support area, which is combined with bullish divergence. If the price successfully reclaims the 200-day moving average (MA), it is likely to continue its upward movement towards the resistance area previously outlined. MATIC Breakout
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Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst. (I do not have a discord and will not contact you first there. Beware of scammers)
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