Analysts Warn: These 2 Altcoin Investors Have to Choose!

Crypto analyst Manish Ciheti says QNT is under downward pressure.
Analyst Aaryamann Shrivastava states that ADA is struggling to recover and is facing a short-term decline. We have compiled analysts’ predictions for these 2 altcoins for our readers.

QNT price prediction: Altcoin is preparing for a short-term sell-off!

Quant (QNT) price is facing short-term downside pressure. On-chain analytics platform Lookonchain shows that an early holder deposited 118,008 QNT tokens worth $9.78 million on the Kraken exchange. This wallet previously sold 8,050 QNT tokens worth $742,000 at $92 on the Uniswap decentralized exchange last month. Following this, the altcoin price dropped by approximately 11%. Additionally, this event could impact a selling frenzy or be a catalyst that initiates a correction in bearish market conditions.

Metrics point to QNT falling

Santiment’s Consumed Age index lends further credence to the bearish outlook. Sudden increases in this index indicate that dormant tokens are on the move and can be used to identify short-term local tops or bottoms. For QNT, history shows that spikes are followed by a collapse in the altcoin price. The last rise on June 17 also predicted that QNT was ready for a downtrend.

QNT Age Consumption chart. Source: Santiment

Santiment’s Offer on Exchange information shows the total measure of QNT held on centralized exchanges (CEX), decentralized exchanges (DEX) and over-the-counter exchanges. An increase in this index indicates potential sales or the formation of local price peaks. On the other hand, a decline indicates whale accumulation or local price floors. In QNT’s case, the Supply on the Exchange increased from 1.56 million on June 16 to 1.68 million on June 17. This 7.6% increase in supply indicates that investors are sending their assets to the exchanges to book profits, which can lead to local price peaks or potential sell-offs.

QNT Supply chart on exchanges. Source: Santiment

ADA price assumption: Indicators are contradictory but…

Cardano (ADA) price is conflicted about what awaits it. On the other hand, the altcoin sees an opportunity for accumulation. This is derived from the short-term Market Value – Value Realized (MVRV) ratio. MVRV ratio evaluates the investor’s profit and loss. Currently, Cardano’s 7-day MVRV stands at -12%. This indicates losses that could lead to an increase in buying pressure. Historically, ADA MVRV between -6% and -18% often signals the beginning of rallies. It also indicates an opportunity zone for accumulation.

Cardano MVRV Ratio. Source: Santiment

However, Cardano’s lack of participation in market activities argues against this. This gives a sell signal. This is especially evident in the daily active addresses (DAA) price divergence, where the number of unique addresses involved in transactions is not exactly aligned with price movements. Such a deviation often heralds further downward pressure or consolidation. The DAA price gap indicates that there is not enough market participation to support a rapid recovery despite the recent price decline. This lack of active participation means that traders are hesitant to re-enter the market, possibly expecting further declines or because they are unsure of the future price. This scenario often leads to a period of consolidation as the market searches for stability.

Cardano Price DAA Difference. Source: Santiment

ADA investors have to choose!

Cardano’s price recently faced a significant decline as it could not break out of the symmetrical triangle formation. Instead, it dropped to $0.40, indicating a bearish trend for the altcoin. The move sparked concern among investors and analysts hoping for a rally. Therefore, the likely outcome for ADA is currently a sideways move in the mid-$0.43 to $0.40 range.

Cardano Price Analysis. Source: TradingView

However, if the altcoin does not bounce back from $0.40, it could break below that. This will cause Cardano’s price to drop to its lowest level in the last six months, falling to $0.38, invalidating the bearish thesis.

The opinions and claims in the article are those of analysts and are definitely not investment advice. cryptokoin.comWe strongly recommend that you do your own research before investing.