QTUM Jumps 30%, NEO Climbs 15%

The altcoin market lit up at the start of this week, with QTUM and NEO posting double-digit gains. QTUM rallied more than 30% in a single day, while NEO climbed 15%, supported by trading volumes not seen in months. Both assets are flashing strong momentum signals but also approach overbought territory, raising questions about sustainability. So, should you buy some or wait for the right moment? Join me as I answer your queries in this analysis.

QTUM Price Analysis

QTUM is trading across exchanges at $3.22, up 30.06% in 24 hours and 53.52% in seven days. With its market cap at $340.61M and 24-hour trading volume soaring 342.27% to $598.7M. The token has broken above its 200-day SMA at $2.31 and 23.6% Fibonacci retracement at $3.11, further confirming a decisive trend shift.

The RSI signals intense buying pressure, while the MACD histogram at +0.0838 supports sustained upward momentum. Such conditions often attract breakout traders, particularly when backed by high volume and a 1.75x turnover ratio. Talking about targets, a close above $3.47 could clear the path to $3.88.

NEO Price Analysis

NEO trades at $8.14, up 15.9% in 24 hours and 32.88% in seven days, with its market cap at $574.98M and trading volume exploding 594% to $340M. The token broke above the 50% Fibonacci retracement level at $6.98 and pushed through resistance at $7.32, sparking algorithmic buying.

The RSI and MACD histogram at 0.14015 indicate strong bullish momentum but also overbought conditions. If the rally continues, the price may target $9 before facing heavy resistance. However, its steep RSI reading suggests that short-term consolidation near $8 may occur before another push higher.

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