QNT, ADA, SUI: Cryptocurrency Price Action Heats Up
The Quant (QNT) price has retreated from its local top, dropping from nearly $370 to around $235, despite a 300% jump over the past two weeks.
The coin's surge was triggered by The Clearing House's announcement that it selected Quant to power its On-Chain Money Initiative, a $2 trillion daily payment network.
Analyst Ali Martinez sees a key resistance level at $430, which could result in a parabolic expansion towards $2,000, but popular trader Doctor Profit has cashed out his entire position in QNT, citing an uncomfortable environment.
Meanwhile, Cardano's native token (ADA) has performed well, but may be headed for a price retreat, according to Martinez, who points to recent whale activity and a Tom DeMark Sequential sell signal.
SUI, on the other hand, has risen by 17% over the past week, with Martinez predicting a new golden cross and a long-term rally towards $4.