Few altcoins have outperformed Bitcoin and Ethereum alone in the past three months. At the same time, they have also recorded impressive gains relative to leading cryptos. Specifically, the last 90 days have revolved around the performances of CHZ, LDO, QNT, ETC, MATIC and UNI.
These 3 altcoins ignored the bear market
Chiliz (CHZ)
Chiliz’s return over the past 90 days has soared above 80%, the highest among established cryptos. It is also down only 26% to date, losing 57% and 60% against BTC and ETH, respectively.
On the daily chart, the price of CHZ reached $0.20 per unit on August 29. At the same time, he wanted to close the month with profit. Conversely, from a technical standpoint, Chiliz is looking at a potential 55% correction to $0.09 in September based on the setup shown below.
Initially, the CHZ price rally started in the middle of a recovery seen in the crypto market. But this upward move has been accelerated by a number of optimistic updates, including a partnership with crypto exchange Huobi Global and the nearly 25% acquisition of FC Barcelona’s Barça Studios.
FC Barcelona announces the sale of 24.5% of Barça Studios to the company https://t.co/SkC8g62KY4 for 100 million euros to accelerate the club’s audiovisual, blockchain, NFT and Web.3 strategy.
More details https://t.co/0sM9grct3L pic.twitter.com/5xcLWYg440
— FC Barcelona (@FCBarcelona) August 1, 2022
Chiliz also took advantage of the hype around back-to-back network updates as it tried to eliminate Ethereum and launch its own network, CHZ 2.0.
DAO (LDO)
Lido DAO (LDO) has rallied about 60% in the last 90 days, mainly due to the enthusiasm around the “merge”. Lido DAO helps underfunded users become stakers on Ethereum’s upcoming PoS Blockchain. It does this by pooling users’ Ethereum funds into 32 ETH pools and depositing them into the merge’s official smart contract, as required by the Ethereum network.
Lido DAO’s attracting more users in the days leading up to and following Merger triggered buying in an otherwise bear market. But like Chiliz, LDO’s price exposures are down 20% in September to $1.31 as shown in the setup below.
The $1.31 target acts as support in the red-marked consolidation area given its historical performance.
Quant Network (QNT)
Quant Network (QNT) has risen more than 40% in the past 90 days, initially rising further with a broader crypto market uptrend. But it gained momentum amid speculation that interoperable blockchain protocols would be adopted among government and regulatory agencies.
⚔️ Group 1 – The Financial Stability Board (FSB)
📍 The report references a roadmap the FSB published in 2020 for cross-border payments infrastructure.
I wrote a thread on this exact paper, speculating $QNT involvement based on their API-driven approach to interoperability. ⬇️ https://t.co/LuAqmK2lKU pic.twitter.com/PozDYCseox
— Greg Lunt (@GregLuntX) July 8, 2022
From a technical standpoint, however, QNT risks a 40% price drop from its current price level as a head-and-shoulder pattern has formed on the daily chart with a target of $57 by September, as shown below.
Other winners
Ethereum Classic (ETC) has risen more than 40% over the past 90 days in hopes it will offer a safe haven for Ethereum miners after the PoS upgrade. WhilPolygon (MATIC) rallied 27% in the same period. Uniswap (UNI) took the last place with an increase of 13%.
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