Biggest Movers: QNT Rebounds on Friday, UNI Extends Recent Decline
Quant ended a streak of three consecutive declines on Friday, as prices rebounded following recent losses. The move saw the token bounce towards its recent resistance level of $180.00. Uniswap, on the other hand, remaine...
Quant ended a streak of three consecutive declines on Friday, as prices rebounded following recent losses. The move saw the token bounce towards its recent resistance level of $180.00. Uniswap, on the other hand, remained in the red, falling below a key support point in the process.
Quant (QNT)Quant (QNT) rose higher on Friday, as prices rebounded following three days of straight declines.
Earlier in today’s session, QNT/USD rose to an intraday peak of $179.15, less than a day after falling to a low of $159.06.
The move saw the token rise from yesterday’s one-week low, which came just days after trading close to a one-year high.
Looking at the chart, today’s rebound in quant saw the 14-day relative strength index (RSI) also move away from a support point of its own.
As of writing, the index is tracking at 59.01, near its lowest point since September 23.
The next visible resistance seems to be at 65.00, and should price strength reach this point, we could see QNT trading above $200.00.
Uniswap (UNI)On the other side of the spectrum, uniswap (UNI) was one of Friday’s biggest losers, as prices fell by nearly 8%.
UNI/USD, which rose to a peak of $6.49 during yesterday’s session, slipped to a low of $5.85 earlier today.
As a result of today’s sell-off, uniswap fell below a key support point of $5.95, hitting its lowest point since October 13 in the process.
Friday’s decline in price has also pushed the RSI to a floor of 42.30, which is the weakest point for the index in the last ten days.
Currently, uniswap has rebounded from its earlier lows, and as of writing is trading at $5.95.
This shows a level of bullish momentum still remains in the market, despite prices now falling for a second consecutive session.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect uniswap to move lower during the weekend? Let us know your thoughts in the comments.
Original source
Read on Bitcoin NewsRelated market context
Bitcoin Mining Cost Model Points To $47,000 Floor, But Analysts Urge Caution
TL;DR Crypto Rover says Bitcoin has never bottomed below electrical production cost, currently estimated at $47,000. Mining-cost m...
Bitcoin price faces new risk as big buyers lose conviction
Bitcoin’s largest buyers are no longer behaving like a reliable backstop for the largest cryptocurrency. The exchange-traded funds...
Coinbase Quantum Report Warns Millions Of Bitcoin Could Face Future Security Risks
TL;DR Coinbase’s Quantum Advisory Council published a report on post-quantum migration and abandoned coins. The report estimates t...
Elon Musk SpaceX AI Predicts Incredible Bitcoin Price For Next 30 Days
Here is the thing about capitulation calls. They only sound smart in hindsight. Right now, with Bitcoin price scraping along the l...
Standard Chartered Says Bitcoin Bottomed Near $59,000 As Crypto Winter Ends
TL;DR Standard Chartered’s Geoffrey Kendrick reportedly says Bitcoin’s $59,000 area marked the cycle bottom. The note cites SpaceX...
Aave Proposal Moves To Add Circle Wrapped Bitcoin As Collateral
TL;DR Aave Labs has proposed onboarding Circle Wrapped Bitcoin, or cirBTC, to Aave V3 Core and Aave V4 Core on Ethereum. The propo...