After a negative start to the week the market rebounded in the afternoon. Quant (QNT), and Terra (LUNA), were the top gainers. The overall market had risen 1.35% to the time of writing, despite earlier losses in bitcoins and ethereum.
Largest gainers
The cryptocurrency market has been subject to considerable pressure over the last week from bears. However, some bulls returned Monday and this helped to ease some of the tension.
Terra (LUNA), was one such. It was up over 7% by the time this article was written, reaching a maximum of $53.61 at that point.
Despite this, it was quant (QNT) that was today’s biggest gainer (thus far), climbing by as much as 13% on the day.
QNT/USD rose to an intraday high of $128.98 to start the week, after closing out yesterday’s session with a low of $105.45.
Today’s move saw QNT form an engulfing pattern, which wiped out the last four days of quant bears, as markets looked to move to resistance.
Some traders seem to have exited their positions, however, as QNT/USD climbed closer to $138.30.
We may see some people still pushing for this price limit, regardless of what the outcome.
Biggest losers
Despite last week’s selloff somewhat consolidating, there was certainly still a red wave present in the crypto top 100.
The majority of the list is still in red. However, there were some losses. Avalanche was the most significant to fall at the time of writing.
AVAX/USD fell to an intraday low of $75.00 during today’s session, and is down close to 4%, pushing prices to their lowest level in three weeks.
After several unsuccessful attempts to lower the price, this drop is finally due to $79.00 being broken.
The price strength was also affected by the 14-day RSI falling to its lowest point since February 3. It now stands at 44. This is slightly above oversold territory.
AVAX could be headed towards $70.00 Please share your views with us in the comments.
Images Credits– Monday’s crypto rebound was led by Shutterstock and Pixabay. However, Wiki Commons and #QNT are leading the way. #AVAX drops lower
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