Introduction

The recent crypto market scenario has been characterized by reduced volatility and consolidation in Bitcoin, leading to a sideways trend in the altcoin market. Despite the struggle of leading digital assets to maintain levels above $70,000, assets like Oasis Network (ROSE) and Quant (QNT) have displayed significant upward movements in the past 24 hours. The resilience shown by these assets in the face of market uncertainties has positioned them for potential bullish rallies once investor sentiment turns positive.

Market Outlook

The current state of the altcoin market is uncertain, with questions arising whether Bitcoin's potential rally to levels exceeding $73,650 will catalyze a bullish momentum in altcoins or if sellers are preparing for an extended correction.

Oasis Network (ROSE) Analysis

Amidst the mid-May recovery in the crypto market, the Oasis Network coin experienced a rebound from a support level at $0.8, resulting in a 42% surge to trade at $0.114. The altcoin also reclaimed positions above the 50-day and 200-day Exponential Moving Averages (EMAs). A technical analysis of the daily chart indicates the formation of a cup and handle pattern, typically signaling a bullish reversal. If ROSE price manages to break above the neckline resistance at $0.12, a 52% rally to challenge the $0.184 peak could ensue. However, if selling pressure at $0.12 persists, the asset might enter a consolidation phase.

Quant (QNT) Analysis

Quant coin has been under intense selling pressure since late March, leading to a significant price drop to $50.8. Currently trading at $87.6, the asset has stabilized above $83, supported by the lower trendline of a falling wedge pattern. The possible rebound in QNT price could trigger a bullish cycle towards a target around $110. A breakout from the overhead trendline is crucial to confirm a trend reversal.

Conclusion

The possibilities of a bullish momentum in assets like ROSE and QNT this week are contingent on various factors such as Bitcoin's performance, market sentiment, and price dynamics. Traders and investors are advised to carefully monitor key resistance and support levels to assess potential trading opportunities in these altcoins.