Quant continued to trade close to an eight-month high on Wednesday, as prices of the token rose for a second straight day. Hedera was another notable mover in today’s session, as it rose by as much as 11% earlier in the day. Overall, crypto markets are marginally down as of writing.
Quant (QNT) rose for a second consecutive day on Wednesday, as prices remained close to an eight-month high.
On Sunday, the token surged to a peak of $163.83, which is the highest point quant has hit since February 8.
Earlier in today’s session, QNT/USD was at a high of $157.80, which sees prices only $6 away from the aforementioned peak.
As a result of recent gains, QNT is now firmly in overbought territory, with the 14-day relative strength index (RSI) tracking at 70.19.
This is marginally below a ceiling of 71.00, which quant bulls will need to overcome, should they intend to send prices higher.
Price uncertainty will likely be heightened around this region, with bears potentially also waiting for the opportunity to reenter.
Hedera (HBAR) was another notable gainer on hump day, with the token climbing by as much as 11%.
Following a low of $0.05879 on Tuesday, HBAR/USD managed to rise to a peak of $0.06596 earlier today.
As a result of this surge in price, hedera has now hit its strongest point in one month, since when the token was trading above $0.0737.
Looking at the chart, HBAR has since fallen from earlier highs, as bears reentered the market following the failed attempted breakout of a ceiling at $0.06600.
Today’s move comes as the 10-day (red) moving average crossed over its 25-day (blue) counterpart, for the first time since September 13, which is when we last saw HBAR at these current levels.
Should we see this upwards momentum continue, then bulls will likely force a breakout of the resistance point referenced above.
Register your email here to get weekly price analysis updates sent to your inbox:
Could hedera maintain this momentum throughout the remainder of the week? Let us know your thoughts in the comments.
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.