Date: Wed, February 26, 2025 | 07:14 AM GMT
In the cryptocurrency market today, major altcoins are making a strong recovery after facing a sharp sell-off yesterday. Following this, two top altcoins, Quant (QNT) and Polkadot (DOT), are coming into the spotlight with strong bounces from their 24-hour lows.
QNT is up by over 13% with a successful breakout and retest, while DOT has surged by over 11%, with price action hinting at a similar path to QNT.
Source: Coinmarketcap
Quant (QNT)
QNT recently broke out from a falling wedge pattern, which had constrained its price movement for weeks. On February 19, the token decisively broke above the upper trendline of the wedge, rallying to a local high of $100.
Quant (QNT) Daily Chart/Coinsprobe (Source: Tradingview)
However, as is typical after a breakout, QNT experienced a pullback to retest its breakout trendline near $84, which is now acting as strong support. This retest confirmed the validity of the breakout, and the token has since rebounded with the support of the 200 MA, currently trading around $106—eyeing a move above the 100 MA.
If it manages to move above the 100 MA, the next resistance levels lie at $115 and $124, which represent a potential 17% gain from the current price.
Polkadot (DOT)
Similar to QNT, Polkadot (DOT) made its falling wedge breakout on February 19, when the token broke the upper resistance trendline and reached a local high of $5.33 before pulling back for a retest, bringing DOT to test its breakout trendline at $4.13.
Polkadot (DOT) Daily Chart/Coinsprobe (Source: Tradingview)
As of now, DOT has rebounded to $4.79 following a confirmed retest. It is now approaching the next resistance of $5.33 and its 50 MA. Crossing this level will lead it to the resistance of $6.49, which is still 37% up from the current price.
Final Thoughts
With both QNT and DOT successfully breaking out and confirming their retests, the signs of a potential recovery are growing stronger. If these tokens manage to cross their key moving average (MA) lines, it could further solidify bullish momentum and open doors for even higher targets.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a financial advisor before investing in cryptocurrencies.
