Crypto Market Stabilizes: Bitcoin Eyes $98K, Altcoins Poised for Breakout

The cryptocurrency market is attempting to stabilize following a significant downturn, with trading volumes showing signs of recovery. Bitcoin is currently trying to reclaim the crucial resistance level at $98,000, which could potentially turn the tide for the token and the broader crypto market. Meanwhile, several altcoins appear poised for a breakout in the coming days.

Hedera (HBAR) is one such altcoin that is showing signs of a potential rebound. The price has been trying to rise after bouncing off the lower support of a falling wedge, although technical indicators are mixed. The Ichimoku clouds have turned bearish, with the baseline and conversion line undergoing a bearish crossover. However, the Relative Strength Index (RSI) has displayed a bullish divergence, suggesting that the price may continue to maintain a healthy upswing. If HBAR can successfully surpass the $0.25 resistance level, a rise to $0.27 could be imminent, potentially pushing the price towards the resistance zone between $0.28 and $0.285.

Ondo (ONDO) has received a strong boost following recent purchases by World Liberty Financial, led by Donald Trump. The price has rebounded from the support of a decisive symmetrical triangle and is now testing one of the pivotal resistances. The Directional Movement Index (DMI) is close to undergoing a bullish crossover, and the RSI is rising above average levels. As a result, ONDO is expected to maintain its bullish momentum and potentially test the upper targets in the coming days, with a target of $2.

Quant (QNT) has shed some of its gains but has since triggered a strong rebound. The price found its base at the 200-day moving average (MA), which could push prices higher as trading volumes rise above the average range. Traders continue to accumulate, with bullish divergence levels approaching a million. If QNT can gain strength, it may rise above $100 to test the 50-day MA at $108 and potentially secure $110.