Quant was one the biggest movers in cryptocurrency markets this week. The token soared beyond $200 to its highest level since December last year. This means the token’s price has risen nearly 40% over the past seven days. Monero also saw a notable rise, climbing for the second day in a row.
The new week saw Quant (QNT), which surged higher, reaching its highest level in almost a year.
Following a low of $182.88 on Sunday, QNT/USD raced to a peak of $226.09 earlier in today’s session.
This point is the most powerful QNT trading level since December 12, 2021 when it reached a peak 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 currently tracks at 87.03 and is now at its highest point for over a decade. Its current position follows the breaking of the ceiling of 75.00
QNT is already falling from previous highs. This was because bears saw an opening to lower prices, and they moved deeper into overbought territory.
Monero (XMR), was also green Monday as the token rose again for the second consecutive session.
After trading at an intraday low of $141.48, XMR/USD surged higher to $145.03 in the morning.
Today’s climb comes as the token continued to move away from its recent support point of $137.00.
At the time of writing, it is trading at $143.90. The resistance level was looming and earlier bulls chose to cash out their positions.
The $148.00 ceiling, historically a high point of uncertainty regarding price movements, is this ceiling.
The RSI stands at 48.70 and will likely move higher if it exceeds this level.
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Is monero able to move beyond its resistance next week? Please share your views with us in the comments.
Credits for the imageShutterstock. Pixabay. Wiki Commons
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