Technical Analysis: Quant Climbs 20%, as Loopring Selloff Extends

Technical Analysis: Quant Climbs 20%, as Loopring Selloff Extends

After earlier spells of consolidation, the tide turned on cryptocurrencies this afternoon, with markets finding themselves in a red wave. Quant managed to evade the wave, climbing by as much as 20% during the session. Biggest gainers

Following yesterday’s strong gains, the global cryptocurrency marketplace was trading over 6% lower on Wednesday, however, there were some notable exceptions.

Quant was one of these exceptions and was easily one of the biggest movers in the crypto top 100 during today’s session.

QNT/USD hit an intraday high of $119.91 on Wednesday, after trading at a low of $97.60 the day prior.

Today’s rally sees QNT extend its gains for the third consecutive day, and now is on the brink of breaking into the 0.236 Fibonacci zone.

This run began after QNT/USD rose from its support of $89 on Monday, after falling to its lowest level in over 1-year towards the end of last month. QNT/USD – Daily Chart

There is a visible RSI resistance currently in place, some still remain confident that we may be set for a break. Biggest losers

Loopring extended Tuesday’s losses today, falling to a low of $0.8932, which saw its price decline by nearly 7% as of writing.

Despite this, there was another bear that stood out on Wednesday, that of course being arweave (AR).

AR/USD was down 8.3% as of writing, hitting a session low of $37.04 in the process, which came after resistance of $42.20 was held.

This selloff coincided with the 14-day RSI failing to break out of its recent ceiling of 50, which appears to be the theme amongst cryptocurrencies on Wednesday. AR/USD – Daily Chart

However, despite this the short-term trend is still pointing upward, which may mean that bulls are still present, just waiting for an opportune time to re-enter. Tags in this story Arweave, crypto assets, Cryptocurrencies, Gainers, Loopring, Losers, Market Update, Markets, Markets & Prices, Prices, QNT, quant, Technical Analysis

Should this happen, how high do you expect AR to go? Let us know your thoughts in the comments. Eliman Dambell

Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: Bitcoin Consolidates After Yesterday’s Rally MARKET UPDATES | 8 hours ago Technical Analysis: Solana Surges 15%, as Loopring Price Declines MARKET UPDATES | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleEl Salvador Switches Tech Providers — Chooses Alphapoint to Operate Chivo Bitcoin Wallet Next articleRussians Own $215 Billion in Crypto Suggests Estimate Attributed to Government 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. Read disclaimerShow comments More Popular NewsIn Case You Missed ItJPMorgan Lowers Its Bitcoin Fair Price Estimate to $38K Amidst Volatility

Leading investment bank JPMorgan has changed its view on the estimate of bitcoin"s price on a long-term basis. The institution had estimated a long-term price of $146K back in November when bitcoin was over $60K. One of the most important ... read more.Blockchain and Cryptocurrency Is "Here to Stay and Impossible to Regulate at Large" — CEO of a United Arab Emirates Based Bank Report: Nvidia’s Lite Hash Rate Tech to Stop Crypto Miners "Was Pointless" Nobel Laureate Paul Krugman Likens Crypto Market to Subprime Mortgage Crash — Warns Regulators Are Making the Same Mistake Judge Orders Argentinian Soccer Association to Drop Binance Deal