Quant was one of the big movers in the crypto market to start the week as the token rose above $200, its highest point since last December. The move means that tokens have risen nearly 40% over the past seven days; Monero was another notable gainer, rising for the second day in a row.
Quant (QNT)
Quant (QNT) soared at the start of the new week, hitting a nearly one-year high in the process.
After hitting a low of $182.88 on Sunday, QNT/USD ran up to a peak of $226.09 early in today’s session.
This is the strongest point the QNT has traded at since a high of $236.00 on December 12, 2021.
The chart shows that today’s move came as the 14-day Relative Strength Index (RSI) rose above a key upper limit.
The index is currently at 87.03, its highest level in over a year, after a move through the ceiling at 75.00
The QNT has already fallen from its previous highs and moved deeper into overbought territory, so the bears saw an opportunity to push prices lower.
Monero (XMR)
Monero (XMR) was also in the green on Monday as the token rose for the second consecutive session.
XMR/ Monero (XMR) also rose for the second consecutive session, as did Monero (XMR
Today’s gains are attributed to the token continuing to move away from its recent support point at $137.00.
As of this writing, the token is currently trading at $143.90 and with the resistance point looming, previous bulls opted to liquidate their positions.
This upper limit is at the $148.00 mark, a point of historical price uncertainty.
The RSI is currently hovering near the 48.70 obstacle, and above this point, the token is likely to continue its uptrend.
Sign up for email here to have weekly price analysis updates sent to your inbox.
Image credits: Shutterstock, Pixabay, Wiki Commons
