The cryptocurrency market is rebounding after a sharp correction triggered by the Federal Reserve’s December 17 meeting. Bitcoin ($BTC ) briefly dipped to $92,000 but has since recovered to trade above $98,000, providing a much-needed lift to market sentiment. Among altcoins, Filecoin ($FIL ) and Quant ($QNT ) are emerging as strong contenders, rebounding from their recent lows and holding key technical levels after significant breakout moves.
Over the past month, Filecoin has rallied 23%, while Quant has surged 31%, signaling growing investor interest and optimism in these assets.
---
Filecoin (FIL): Retesting Critical Levels After a Long-Awaited Breakout
Filecoin recently achieved a notable technical milestone, breaking out of a Descending Triangle pattern that constrained its price for nearly two years. The breakout occurred on November 25, 2024, as FIL surged above the descending resistance trendline, driving the price to a peak of $8.42. This marked a significant shift for the token, which had struggled to gain upward momentum within the prolonged bearish pattern.
Following the market correction, FIL successfully retested its former resistance line, now acting as a robust support level near $5. At the time of writing, FIL is trading at $5.38, maintaining its position above this critical support zone. This behavior indicates strong technical resilience and the potential for further upward movement.
Should the bullish momentum persist, FIL could aim for a retest of its recent $8.42 high, offering a potential 55% upside from its current price.
---
Quant (QNT): Sustaining Momentum After a Triumphant Breakout
Quant (QNT) also experienced a major technical breakout, overcoming a Descending Triangle pattern that had capped its price trajectory for nearly three years. The breakout, which occurred on November 25, 2024, propelled QNT above its long-standing descending resistance trendline. The token subsequently rallied to a high of $171.
During the recent market correction, QNT retraced to retest its breakout level near $95. Following this successful retest, QNT has rebounded and is currently trading at $116. The price action indicates that QNT has established a solid foundation for further gains, supported by strong market demand.
If the recovery sustains, QNT may revisit its recent high of $171, presenting a potential 48% gain from its current trading level.
---
Market Outlook: FIL and QNT Positioned for Growth
Both Filecoin and Quant have displayed technical strength by holding their breakout levels and converting previous resistance zones into reliable support. These developments suggest that the tokens are well-positioned for potential gains, particularly if broader market conditions stabilize.
Bitcoin’s recovery above $98,000 provides a supportive macro environment for altcoins. However, sustained stability in Bitcoin’s price will be critical for assets like FIL and QNT to build on their momentum. Investors should monitor key resistance levels—$8.42 for FIL and $171 for QNT—alongside broader market trends to gauge the likelihood of further upside.
With their breakouts intact and technical indicators pointing to continued strength, both Filecoin and Quant could be set for significant performance in the near term, contingent on market conditions and broader sentiment.