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QNT Climbs to Highest Point Since Last December – Market Updates Bitcoin News

October 17, 2022
in Bitcoin
Reading Time: 5 mins read
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QNT Climbs to Highest Point Since Last December – Market Updates Bitcoin News
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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)

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.

QNT/USD – Daily Chart

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)

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.

XMR/USD – Daily Chart

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.

Register your email here to get weekly price analysis updates sent to your inbox:

Could monero move past its upcoming resistance this week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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