Crypto market’s weekly winners and losers – QNT, NEAR, AKE, RAIN

This week in crypto was marked by a sharp rebound.

Bitcoin [BTC] climbed toward $86k as nearly $1 billion flowed into spot ETFs and short liquidations accelerated. Altcoins also rallied, with Solana [SOL] reclaiming $120 and several major tokens posting strong gains.

However, a few selected altcoins stood out with triple-digit weekly rallies, showing just how aggressive the momentum has become across pockets of the market.

Weekly winners

Quant [QNT] leads the rally with triple-digit weekly gains

Quant [QNT] rocketed to the top this week, registering a massive 170%+ rally. More importantly, having broken above the $160 range, QNT pushed back to the levels previously recorded in Q4 2022, re-establishing long-term holders with profits from years of holding.

This does not come without FOMO. As the weekly chart shows, QNT’s RSI has entered the extreme overbought territory, and the price stayed up some 15% on the daily chart. That is both a measure of how aggressively the momentum has picked up, and the degree of divergence that has started to appear with it.

A weak shakeout after the triple-digit rally would not be surprising, but with FOMO starting to build up with long-term holders and fresh buyers, QNT could have enough demand on board to absorb the selling pressure. This would keep the uptrend intact.