Litecoin and Quant Struggle Below $100 Amid Bearish Pressure

Bears have maintained a strong grip on the prices of Litecoin and Quant, keeping them below the $100 mark. This persistent bearish pressure has raised questions about whether these cryptocurrencies will experience a breakout in May. The current market sentiment suggests that both Litecoin and Quant are facing significant resistance, which could hinder any potential upward movement.

Litecoin (LTC) has been struggling to break above the $100 mark, despite attempts by bulls to validate a V-shaped recovery. The token's price has been restricted within a range, and the current chart pattern, while appearing bullish in the short term, suggests a major pullback in the wider timeframe. The 50/200-day moving average (MA) has failed to initiate a Golden cross, and the Directional Movement Index (DMI) is heading towards a bearish crossover. If Litecoin fails to trigger a rebound, its price is feared to drop back close to $75.

Quant (QNT) has maintained a horizontal consolidation after surging by over 60%. The consolidation has indicated the weakness of the bulls, which may point towards an extended pullback. The QNT price is trading within a decisive phase, and a breakout could elevate the price beyond current highs. However, the volume remains within a restrictive range, and it is uncertain whether the price will rise to $111 or drop close to $80. The Bollinger bands are about to contract, suggesting a rise in volatility, while the Chaikin Money Flow is heading towards the average range, hinting towards a drop in the money flow. This suggests that the token is likely to accumulate for some more time, followed by which a major price action could follow, depending on the volume induced.

Considering the current price action, breaching above $100 seems to be quite difficult for the prices of Litecoin and Quant. However, with a rise in the buying volume, the market sentiments could change, which could clear the barriers to rise above the 3-digit figure. The bearish trend has been attributed to various factors, including regulatory uncertainties and the broader economic climate. Despite the challenges, some analysts believe that Litecoin and Quant have the potential to spark a breakout in May, provided that the market conditions improve. However, this remains speculative, and the actual outcome will depend on a range of factors, including market sentiment, regulatory developments, and broader economic trends. Investors are advised to exercise caution and conduct thorough research before making any investment decisions.