Altcoin Season Is Over: Analyst Warns HYPE, ONDO and QNT Could Fall

Highlights:

• Analyst Ali Martinez warns Hyperliquid, Ondo, and Quant could face further losses as altcoin momentum weakens.
• HYPE could fall toward $64 and $53, while ONDO risks dropping below key support.
• Quant must close below $190 on a four-hour chart before Martinez’s $160 downside target comes into play.

Crypto analyst Ali Martinez has warned that Hyperliquid (HYPE), Ondo (ONDO), and Quant (QNT) could face further losses as the altcoin market struggles to recover. He sees signs of weakness in HYPE and ONDO after both tokens approached important support levels. Quant has yet to confirm a breakdown, but its current chart pattern also raises concerns.

In a November 9 thread on X, Martinez declared, “ALTCOIN SEASON IS OVER!” He then shared separate price charts for the three cryptocurrencies and identified the levels that could lead to further declines.

Hyperliquid and Ondo Face Key Support Tests

Martinez said Hyperliquid appears to be slipping below a rectangular trading range that has held for the past two months. The token has spent that period moving sideways, but its latest price action suggests sellers may be gaining control. He identified $75 as the key level for HYPE. If the token stays below that price, Martinez expects a possible decline toward $64. A deeper correction could bring $53 into focus.

Ondo is facing a similar challenge. According to Martinez, ONDO appears to be breaking below an ascending channel that has guided its price since the beginning of 2026. The analyst is watching $0.35 as the critical support level. A sustained move below it would strengthen the bearish outlook, with $0.26 as the first potential target. If selling pressure increases, ONDO could fall further toward $0.19.

However, both forecasts depend on the tokens failing to recover their respective support levels. Neither downside target is guaranteed.

4/5 Quant hasn’t broken down yet, but it appears to be consolidating inside a symmetrical triangle.

I’m waiting for a four-hour close below $190. That would confirm the bearish break I’m watching and put $160 as the next target for $QNT. pic.twitter.com/PDmVUdpJVZ

— Ali Charts (@alicharts) November 9, 2026

Quant Could Drop to $160 if Triangle Support Breaks

Unlike HYPE and ONDO, Quant has not yet confirmed a bearish breakdown. Martinez said QNT is consolidating within a symmetrical triangle, a pattern that reflects tightening price movements as buyers and sellers compete for control. He is waiting for a four-hour candle to close below $190 before confirming the bearish setup.

Such a move would put $160 in focus as the next downside target. Until then, Quant remains within its current pattern, leaving room for a move in either direction. The three forecasts come as altcoins continue to struggle following the recent market sell-off. Still, Martinez’s analysis focuses on technical price levels rather than confirmed future losses.

Bitcoin Faces Pressure as 10x Research Warns of Mixed Signals

Meanwhile, research firm 10x Research warned that Bitcoin is breaking through important technical support levels as traders assess the market following the US midterm elections. In a November 9 post on X, the firm said its latest market review found conflicting signals, particularly in stablecoin activity.

Some indicators have started turning bullish, but 10x Research cautioned traders against taking excessive exposure before the market provides stronger confirmation. The firm also examined historical Bitcoin performance following US midterm elections to assess how long the current weakness might last. However, it stressed that seasonal patterns alone cannot determine the market’s next move.

How Long Does Bitcoin’s Post-Midterm Slump Usually Last?

Bitcoin is breaking through important technical support. Our weekly market structure review, which looks at crypto from every angle, shows a clear picture, and some of the most important signals are coming from… pic.twitter.com/J1Wty3vALc

— 10x Research (@10xResearch) November 9, 2026

At the time of writing, Bitcoin was trading around $74,218, down 2.06% over the previous 24 hours, according to CoinMarketCap.