3 Surprising Altcoin Gainers That Stunned the Market This Week

Throughout most of 2024, altcoins have encountered various obstacles, yet the second week of September offered some optimism for select cryptocurrencies.

Although several of the leading 10 altcoins experienced only slight improvements, others drew considerable market interest. This week’s notable gainers include Quant (QNT), Fetch.ai (FET), and Fantom (FTM), which became the top altcoin performers.

Quant (QNT)

Quant (QNT) stands out among altcoin gainers, with its price soaring by 26.70% in the past week. This remarkable increase is attributed to the regulatory approval that allows staking on the Overledger platform within the Quant ecosystem.

This development triggered a rise in QNT’s Open Interest, indicating heightened speculative activity from market participants surrounding the token.

As of this writing, QNT is priced at $76.18. The daily chart indicates the Moving Average Convergence Divergence (MACD) is in positive territory, suggesting bullish momentum.

If this trend persists, QNT could target a rise toward $91.16. However, profit-taking could disrupt this forecast, potentially allowing the token to retreat to the $69.13 support level.

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Artificial Superintelligence Alliance (FET)

FET soared with a 26% increase due to the rollout of AI features on iPhones and various advancements from OpenAI.

On its daily chart, FET shows robust support near $1.06, which is likely to prevent it from falling below the $1 mark in the near future. However, it encounters resistance at $1.38, which may obstruct the upward trend’s continuation.

Additionally, the Balance of Power (BoP) has trended downward, indicating that sellers are currently stronger than buyers. Given this trend, FET’s price could slip to $1.14 in the short run.

Nevertheless, if buyers start to outnumber sellers, the token may withstand the downward pressures. In such a scenario, FET could rise towards $1.85, potentially securing its place among next week’s biggest altcoin gainers.

Fantom (FTM)

Recently, FTM’s price fell to $0.47, but it still reflects a 23% increase over the last seven days.

The daily chart indicates that capital inflow surged, as evidenced by the Money Flow Index (MFI). This increase was a significant factor in pushing FTM’s price up to $0.51 initially.

Read more: Which Are the Best Altcoins To Invest in September 2024?

After facing resistance at $0.49, FTM might experience a 13% correction, potentially dipping to $0.41. Nonetheless, if another wave of capital inflow occurs, the token could evade this drop and advance to $0.58.