QNT traded near recent highs on Wednesday as prices battled through a wild session. The token was mainly green on Hump Day, falling as much as 7% on that day; NEAR also fell, with prices headed for a one-year low.
Quant (QNT)
QNT remained near a two-month high on Wednesday, despite a price drop of 7% earlier in the session today.
The token fell to an intraday low of $78.46 during Wednesday’s action as prices moved toward $75 support.
Since that drop, prices have risen somewhat, with the token now trading at $80.20, about $10 away from last week’s high.
{But after this high, bearish sentiment has returned as traders have likely liquidated their previous positions.
The recent rally in QNT was brought about by the 10-day moving average continuing to rise against the 25-day moving average, but this momentum was halted by the recent $90.35 price cap.
Bears contributed to a volatile week of trading, but momentum is still somewhat bullish and it could strengthen in the coming sessions.
Near Protocol (NEAR)
NEAR fell in price for the fourth consecutive session on Wednesday and remains near a one-year low.
After reaching a high of $3.33 on Tuesday, NEAR/USD hit a low of $3.07 on Hump Day, a two-week low.
This bottom was slightly above the June 20 bottom when prices fell to $2.65, which was the lowest for NEAR since August 2021.
At the time of this writing, the token price is trading near $3 support, which could be an ideal re-entry point for bulls.
In recent history, bulls have typically bought close to support points, and this could happen again if the 14-day RSI remains above its own floor.
At 37.9 points, which has been steady for the past three weeks, this could bring the near closer to $4 as it enters its fourth week
Sign up for email here to receive weekly price analysis updates by email.
Image credits: Shutterstock, Pixabay, Wiki Commons, David Esser / Shutterstock.com
