After the first spells of consolidation, the tide turned cryptocurrencies this afternoon, with markets finding themselves in a red wave. Quant managed to survive the wave, climbing up 20% during the session.
biggest beneficiary
Following yesterday’s strong gains, the global cryptocurrency market is down more than 6% on Wednesday, however, with a few notable exceptions.
Quant was one of these exceptions and easily one of the biggest movers in the crypto top 100 during today’s session.
After trading as low as $97.60 a day earlier, QNT/USD hit an intraday high of $119.91 on Wednesday.
QNT extended its gains for the third day in a row in today’s rally, and is now on the verge of breaking out of the 0.236 Fibonacci zone.
The run began after QNT/USD rose above its $89 support level on Monday, after falling to its lowest level in over 1 year at the end of last month.
There is currently a visible RSI resistance, with some still convinced that we may be ready for a break.
biggest loser
Looping extended Tuesday’s losses to a low of $0.8932 today, which saw its price drop by almost 7%.
Despite this, there was another bear on Wednesday, which was definitely Arvive(er).
AR/USD was down 8.3% at the time of writing, hitting a session low of $37.04 in the process, which came after resistance at $42.20.
The selloff coincided with the 14-day RSI failing to break out of the recent 50 range, which appears to be the topic among the cryptocurrencies on Wednesday.
However, despite this, the short-term trend is still pointing up, which could mean that the bulls are still present, just waiting for an opportune time to re-enter.
Should this happen, how high do you expect the AR to go? Let us know your thoughts in the comments.
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