Started by Bitcoin, Oct 18, 2022, 06:46 am
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Quant was one of the big movers in crypto markets to start the week, as the token rose beyond $200, hitting its highest point since last December. The move means that the token has now risen by nearly 40% in the last seven days. Monero was another notable gainer, rising for a second straight day.
Quant (QNT) surged higher to start the new week, hitting its highest point in nearly a year in the process.
Following a low of $182.88 on Sunday, QNT/USD raced to a peak of $226.09 earlier in today’s session.
This is the strongest point that QNT has traded at since December 12, 2021, when it was at a high of $236.00.
Looking at the chart, today’s move comes as the relative strength index (RSI) of 14-days rose past a key ceiling.
The index is currently tracking at 87.03, which is its highest point in over a year, and this comes following a breakout of the ceiling at 75.00
QNT has already slipped from earlier highs, as bears saw an opportunity to push prices lower, as they moved deep into overbought territory.
Monero (XMR) was also in the green on Monday, as the token rose for its second consecutive session.
XMR/USD surged to a high of $145.03 earlier in the day, which comes less than 24 hours after trading at a low of $141.48.
Today’s climb comes as the token continued to move away from its recent support point of $137.00.
As of writing, the token is now trading at $143.90, with earlier bulls opting to liquidate their positions, as a resistance point looms.
This ceiling is the $148.00 mark, which has historically been a point of high uncertainty in price movement.
The RSI is currently tracking near an obstacle of its own at 48.70, and should it move beyond this point, we will then likely see the token continue to trend higher.
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Could monero move past its upcoming resistance this week? Let us know your thoughts in the comments.
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