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The crypto market experienced a glimmer of hope over the past 24 hours, marking a much-needed upward shift after enduring a tumultuous period of severe losses, according to CoinMarketCap. This slight recovery presents investors with the possibility of purchasing several altcoins with massive potential at a discount.
CryptoBusy, an analysis channel, mentioned 3 such altcoins in their latest video. Stacks (STX), Quant (QNT) and Litecoin (LTC) are cryptos that they believe have the potential to print substantial gains for savvy investors in the coming weeks.
Stacks (STX)
Ranked as the 45th biggest crypto project in terms of market cap, STX was able to print a 5.43% gain over the past 24 hours. As a result, the crypto’s price stood at $0.5669 at press time.
Its increase in price was not accompanied by an increase in its daily trading volume over the same period, however. STX’s total volume for the past 24 hours was around $67 million, which was a 6.11% decline compared to what it was in the previous 24-hour cycle.
According to CryptoBusy, STX has been trading in a medium-term downward price channel. The reason that the analysis channel is excited about the short-term prospects for STX is because the aforementioned price channel has forced the altcoin’s price into a major support and resistance zone.
As a result, CryptoBusy predicts that STX’s price will soon see its trend reverse from bearish to bullish. This bullish thesis will be confirmed when STX’s price breaks above the next key resistance level at around $0.67 – $0.68, noted the channel. Should STX break above this level, CryptoBusy forecasts a 75% gain for the altcoin.
Quant (QNT)
Similar to STX, QNT was also able to print a 24-hour gain. However, QNT’s price soared a remarkable 20% over the past 24 hours. This resulted in the altcoin trading hands at $115.16 at press time.
In tandem with the crypto’s substantial price gain, QNT’s trading volume also skyrocketed over the past 24 hours. At press time, the daily trading volume for the crypto was estimated to be $67 million, which was a whopping 362.87% increase in the past 24 hours.
In their analysis, CryptoBusy forecasted that QNT’s price will climb to $165 soon. Before this happens, however, the channel expects a correction to take place in the next few days following the latest surge in QNT’s price.
Should the altcoin’s price pull back, CryptoBusy believes that it will drop to around $107 before the next leg up to the aforementioned $165 target. Thereafter, confirmation of this bullish outlook playing out in the coming weeks will be when QNT’s price breaks above the resistance level at $117.90, according to CryptoBusy.
Litecoin (LTC)
The legacy crypto Litecoin LTC was also named as an altcoin with massive potential in CryptoBusy’s latest analysis. In the past 24 hours, the crypto was also able to post a gain. At press time, LTC’s price stood at $77.60 after it climbed more than 3% in the last 24 hours.
With a market cap of around $5.673 billion, LTC was ranked number 12 on CoinMarketCap’s list of the biggest crypto projects by market capitalization. This positioned it under Polygon (MATIC) at number 11 with its estimated market cap of $5.814 billion. Meanwhile, Polkadot (DOT) was ranked at number 13 with its market cap of approximately $5.404 billion.
According to CryptoBusy, LTC will potentially enter into a big breakout soon. This bullish thesis is supported by the fact that the network’s halving event is only 42 days away. Furthermore, the analysis channel noted that the altcoin is trading in a key support and resistance zone.
Should LTC’s price breakout in the next few days, CryptoBusy predicted that it will soar to as high as $105. Confirmation of this bullish thesis will be when LTC’s price overcomes the resistance level at around $79-$80. Should this happen, LTC investors may receive a 40+% gain.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.