The crypto market failed to rebound after a weekend pullback and has been swept up in a fresh wave of selling, with major altcoins broadly weaker. Cryptocurrency analyst Ali Martinez said on X that the altcoin season has effectively ended and that key support levels for Hyperliquid (HYPE), Ondo (ONDO) and Quant (QNT) are under threat.
Hyperliquid, mentioned first, is breaking below the bottom of the range it has held for the past two months. Martinez framed $75 as the dividing line for the bull case, saying that if that level is not reclaimed, the token could slide to $64 and, if selling pressure intensifies, as low as $53. He had previously warned that a 12-hour candle close in the $76–$78 zone could trigger a plunge to $59; that zone has already broken, and the token is now trading around $72.
Ondo is falling out of the bottom of an ascending channel in place since the start of the year. Martinez said weakness below $0.35 would confirm a loss of support, opening the way to $0.26 and, if selling accelerates, $0.19. Ondo is down 11% on the week at that level and about 30% over the past month.
Quant was among the few gainers on the day, up about 1% over 24 hours around the $200 mark. Martinez noted that support has not yet broken but that price is converging inside a symmetrical triangle, and that a four-hour candle close below $190 would confirm a bearish breakout with $160 as the next target. He added that all three tokens are testing major support and that a failure to hold could trigger further declines across the altcoin market.
Some, meanwhile, see room for a rebound. X user Max Crypto pointed out that total altcoin market capitalization has begun forming the same structure that preceded the major rallies of 2021 and 2024, and urged patience rather than hasty selling. Although recent price action in Bitcoin and major altcoins has weighed on sentiment, market structure alone shows a pattern similar to past turning points, according to this view.
The analysis suggests that near-term direction hinges on whether support holds. Hyperliquid's $75, Ondo's $0.35 and Quant's $190 are set to be the short-term dividing lines for the altcoin market.
