Technical Analysis: QNT, LUNA Lead Monday’s Crypto Rebound

Following a bearish commencement to the week, the crypto marketplace rallied passim the afternoon, with quant (QNT) and terra (LUNA) starring the gainers. Earlier losses successful bitcoin and ethereum were besides lessened, arsenic the wide marketplace was up 1.35% arsenic of writing.

Biggest gainers

Cryptocurrency markets person been nether sizeable unit from bears successful the past week, however, this somewhat eased arsenic immoderate bulls returned connected Monday.

Terra (LUNA) was 1 of these, and was up implicit 7% arsenic of writing, hitting a precocious of $53.61 successful the process.

Despite this, it was quant (QNT) that was today’s biggest gainer (thus far), climbing by arsenic overmuch arsenic 13% connected the day.

QNT/USD roseate to an intraday precocious of $128.98 to commencement the week, aft closing retired yesterday’s league with a debased of $105.45.

QNT/USD – Daily Chart

Today’s determination saw QNT signifier an engulfing pattern, which wiped retired the past 4 days of quant bears, arsenic markets looked to determination to resistance.

However, arsenic QNT/USD moved person to this absorption level of $138.30, immoderate traders seemed to person liquidated their positions.

Irrespective of this, we whitethorn inactive spot those remaining pushing for this terms ceiling.

Biggest losers

Despite past week’s selloff somewhat consolidating, determination was surely inactive a reddish question contiguous successful the crypto apical 100.

Whilst astir of the database remained red, losses were somewhat muted, with the biggest to autumn (as of writing) being avalanche (AVAX).

AVAX/USD fell to an intraday debased of $75.00 during today’s session, and is down adjacent to 4%, pushing prices to their lowest level successful 3 weeks.

AVAX/USD/ Daily Chart

This driblet successful terms comes arsenic the enactment level of $79.00 was yet broken, aft respective failed attempts to determination beneath this point.

Price spot has besides been dented, with the 14-day RSI moving to its weakest constituent since February 3, and present tracks astatine 44, which is marginally successful oversold territory.

Could AVAX beryllium heading towards $70.00? Let america cognize your thoughts successful the comments.

Image Credits: Shutterstock, Pixabay, Wiki Commons, #QNT,#LUNA pb Monday's crypto rebound, nevertheless #AVAX falls lower

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