Summary
- Ali Martinez said “altcoin season is over,” adding that the altcoin market faces a rising risk of further declines.
- He said HYPE, ONDO and QNT could extend their losses if they fail to hold key support levels at $75, $0.35 and $190, respectively.
- He added that all three tokens are testing key support levels, and failure to defend them could lead to further declines across the broader altcoin market.
Forecast Trend Report by Period
The altcoin market faces a rising risk of further declines, according to an analysis published on November 9.
Crypto analyst Ali Martinez wrote on X, formerly Twitter, that “altcoin season is over” and that key support levels for HYPE, ONDO and QNT are under threat.
Hyperliquid’s HYPE has slipped below the range it traded in over the past two months. Martinez identified $75 as a key level, saying the token could fall to $64 if it fails to reclaim that mark. If losses deepen, it could slide as far as $53.
Ondo’s ONDO is also moving below the lower boundary of an ascending channel that had held since the start of the year. If weakness persists below $0.35, that would confirm a breakdown of support and leave room for further declines to $0.26 or $0.19.
Quant’s QNT has yet to break a major support level, but the price is converging within a symmetrical triangle. A four-hour close below $190 could confirm a bearish breakout, with the next downside target at $160, Martinez said.
He added that all three tokens are testing key support levels, and failure to hold them could lead to further declines across the broader altcoin market.
Minseung Kang
