Quant continued to trade near an eight-month high on Wednesday, as prices for the token surged for the second day in a row. Hedera was another notable move in today’s session as it surged as much as 11% earlier in the day. Overall, crypto markets are marginally down at the time of writing.
Quant (QNT) rose for the second day in a row on Wednesday as prices hovered near an eight-month high.
On Sunday, the token rose to a high of $163.83, which is the highest point it has reached since Feb. 8.
Earlier in today’s session, QNT/USD reached a high of $157.80, making prices just $6 off the aforementioned peak.
As a result of recent gains, QNT is now firmly in overbought territory, with the 14-day RSI at 70.19.
This is marginally below a ceiling of 71.00, which the quant bulls will need to break through, should they intend to send prices higher.
Price uncertainty is likely to increase in this region, with bears possibly waiting for an opportunity to re-enter as well.
Hedera (HBAR) was another notable gainer on hump day, with the token rising as much as 11%.
After making a low of $0.05879 on Tuesday, HBAR/USD managed to rise to a high of $0.06596 today.
As a result of this increase in price, hedera has now reached its strongest point in a month, since the token was trading above $0.0737.
Looking at the chart, HBAR has fallen from the previous highs as the bears re-entered the market after the failed attempt to break a top at $0.06600.
Today’s move comes as the 10-day moving average (red) crossed its 25-day counterpart (blue), for the first time since September 13, which is when we last saw HBAR at these current levels.
If we see this bullish momentum continue, the bulls are likely to force a breakout of the aforementioned resistance point.
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Will hedera be able to maintain this momentum for the rest of the week? Let us know your thoughts in the comments.
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