GALA Climbs 16%, Qtum Leads Tuesday’s Bulls – Market Updates Bitcoin News

GALA was one of Tuesday’s big gainers, as cryptocurrency markets were once again trending upwards. The cryptocurrency market capitalization stands at around 4% as of the writing.

Largest gainers

Crypto markets were generally green on Tuesday due to traders returning to the market after the uncertainties caused by tensions between Russia, Ukraine.

Gala (GALA) was one of these bulls, climbing by as much as 16% earlier in the session, however it was qtum (QTUM) which led today’s gainers.

The QTUM/USD was trading at $6.33 Monday and climbed to $8.15 today.

Today’s move came as the price of QTUM rallied from support of $6.35, all the way towards resistance of $7.90 and beyond.

Profit-takers started to sell their stocks as the prices reached the ceiling. QTUM fell from its peak.

The price strength was also able to resist, as the 14-day RSI reached its maximum of 56. This area has been a source of uncertainty for the past.

The bulls may still be in QTUM/USD and hope for a break of resistance to push prices higher than $9.

Biggest losers

Finding a bear, given that the vast majority of crypto’s top 100 traded higher Tuesday, was not an easy task.

Tuesday’s biggest loser, relatively speaking, was symbol (XYM), which fell by close to 0.70% on the day.

Today’s intraday high price for XYM/USD was $0.1782. Markets seem to be looking to support.

As price strength weighed on the 45.15 ceiling in the RSI with bears driving momentum lower, this result was not surprising.

The moving averages (10-days) and 25-25-days are set to a downward crossing, suggesting that $0.1616 could be not only hit but possibly broken.

Are bulls likely to purchase at the support level now? Please share your views with us in the comments.

Eliman Dambell

Eliman is an experienced market analyst with a diverse perspective. Eliman was a broker director and educator in retail trading.