QNT climbs to 6-month high, as ATOM slips to lowest point in 20 days.
Today’s move came as the token broke out of a key resistance level, en route to its strongest point since March. Cosmos was another notable mover, dropping for a second straight session.Quant rose to a six-month high on Wednesday, despite crypto markets mostly hovering in the red.
Following a low of $122.08 on Tuesday, QNT/USD rallied to a hump-day high of $143.26 earlier in the day. The move came as prices raced past a key resistance point of $133.00, hitting their highest point since March 29 in the process.Shortly after the breakout, we saw bears reenter the market, likely as a result of uncertainty spurred by earlier bulls who opted to close positions.
As of writing, quant is currently trading below the aforementioned resistance point, with the 14-day relative strength index also hitting a ceiling. Currently, the index is deep in overbought territory, and tracking at 70.47. Should bulls aim to take price higher, the ceiling of 71.00 on the RSI will need to be broken.
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