Major Quant (QNT) Volatility, Important Cardano (ADA) Price Warning, and More: Bits Recap October 2

The past week has been quite turbulent for the trending altcoin QNT, whose price ultimately increased by an additional 130%. Cardano’s native token has also performed well lately, but certain factors suggest it may soon head south. Meanwhile, SUI has risen by 17% over the last seven days, with prevailing predictions that it could enter a full-blown bull run in the near future. In mid-September, the token was worth around $60, yet a combination of bullish elements triggered a massive rally. The main catalyst was the announcement that The Clearing House (which operates payment networks that process over $2 trillion each day) selected Quant to power its On-Chain Money Initiative. At one point, QNT exploded to a five-year high of nearly $370, yet the bulls could not sustain the momentum, and it currently trades around $235. That still represents a stunning 300% jump over two weeks. Despite the evident reversal from the local peak, the coin remains the subject of bullish price predictions. Ali Martinez outlined $430 as a key resistance level, which sits at the top of a certain channel. In his view, a decisive breakout above could result in a parabolic expansion toward $2,000. On the other hand, the popular trader Doctor Profit recently cashed out his entire position in the token, claiming the environment is not comfortable. “I respect everyone’s decision, but I prefer to be transparent about mine. Even if I sold early and it goes higher, I’m happy with my decision,” he concluded. The asset had a successful September, recording a 25% jump and surpassing $0.25. Nonetheless, Martinez pointed out several elements, including the recent whale activity, that could trigger a price retreat. Large investors have offloaded 90 million units (worth over $22 million) since September 20. Moreover, the Tom DeMark Sequential indicator flashed a sell signal on ADA’s daily chart on September 26, while open interest fell 9% in a week. The analyst focused on $0.24, calling it key mid-range support. He thinks a break below this level could lead to a further drop to $0.21, while holding above it could offer the next buying opportunity, targeting the channel top near $0.28. The altcoin currently trades around $1.18, up 15% for the week, and has a market capitalization of almost $5 billion. A few days ago, Martinez

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