Midnight, Tezos, Quant Rally but Technical Risks Remain

Key Moments

Altcoins Outpace Market but Short-term Upswing Looks Fragile

Altcoins such as Midnight (NIGHT), Tezos (XTZ), and Quant (QNT) are showing stronger 24-hour performance than the wider cryptocurrency complex at the time of writing on Tuesday. The gains follow Monday’s rebounds but are already running into resistance around important moving averages, which are limiting further upside. From a technical perspective, these altcoins remain vulnerable to a reversal as the broader market continues to experience selling pressure.

Midnight: Breakout Stalls Under the 50-period EMA

Midnight is trading above $0.0600 on Tuesday, extending a 10% rebound recorded the previous day. The privacy-focused token associated with Cardano recently broke out of a falling channel pattern on the 4-hour chart. However, the move higher is struggling to push through the 50-period Exponential Moving Average (EMA) at $0.064566, which is sloping downward and has already halted rallies twice earlier in the week.

On the 4-hour chart, the Moving Average Convergence Divergence (MACD) indicator has moved above the signal line in negative territory and is heading toward the zero line. The widening histograms above zero are signaling that overhead pressure has eased.

The Relative Strength Index (RSI) on the same timeframe has retreated back toward the midline, indicating that the brief burst of buying has faded and conditions have normalized toward neutral.

If NIGHT drops below the 20-period EMA at $0.06132, it would invalidate the breakout from the falling channel pattern and could pave the way for additional downside toward the S1 Pivot Point at $0.05106.

NIGHT/USDT 4-hour price chart.

On the upside, a successful break above the 50-period EMA would expose the R1 Pivot Point at $0.06772, followed by the 200-period EMA at $0.07113 as the next layers of resistance.

Tezos: Bullish Bias Softens as Price Fails at 200-day EMA

Tezos is lower by 2% on Tuesday at the time of writing, retracing part of Monday’s 5% advance. The token is encountering significant resistance at the 200-day EMA at $0.6081, which is blocking further recovery efforts. Even so, the upward slopes of the 20-day and 50-day EMAs indicate that both short- and medium-term trends are still aligned with a recovery bias.

A firm daily close above the 200-day EMA could allow XTZ to extend its advance toward the R2 Pivot Point at $0.6618.

On the daily chart, the MACD is converging toward the red signal line, and the accompanying histogram is shrinking, reflecting waning bullish momentum. A subsequent crossover that pushes the histogram into negative territory would point to a shift toward bearish momentum.

The RSI on the same timeframe stands at 58 and is pulling back from overbought conditions toward the midpoint, consistent with cooling buying interest.

QNT/USDT daily price chart.

If the pullback in XTZ deepens, the 20-day EMA at $0.5706 is the first technical support level to watch, with additional support seen at the R1 Pivot Point at $0.5471.

Quant: Range-bound Between 50-day and 200-day EMAs

Quant continues to trade within a band defined by the 50-day and 200-day EMAs, broadly between $78 and $87. On Tuesday, QNT is trading above $82, preserving Monday’s 4% advance. However, the appearance of long upper wicks on candles so far this week highlights strong selling pressure at higher levels.

A failure to maintain prices above the 50-day EMA at $87 could open the way for a move back down toward the November 4 low at $68.

On the daily timeframe, the MACD and signal line are trending higher above the zero line, with histograms widening, which points to building bullish momentum. The RSI, currently at 57, is also moving upward above the midpoint, reflecting increased buying interest.

QNT/USDT daily price chart.

Should QNT break above the 200-day EMA at $87, the next technical objective would be the R1 Pivot Point at $92.