Sep 26, 2022 04:30AM ET
By:AnalysisWatch
The cryptocurrency market is currently experiencing a widespread sell-off, with all of the top 10 coins by market cap in the red.
However, one coin that has bucked the trend is Quant (QNT), which is up 6.25% on the day.
Quant has also been in a continuous uptrend over the past 7 days, gaining about 20.61%. The coin is currently trading at $119.74, after reaching an intraday high of $121.53 a few hours ago.
This is a bit surprising, considering that Quant has been one of the worst-performing major cryptocurrencies in recent weeks. However, it appears that the recent market sell-off has provided an opportunity for investors to buy Quant at a discount.
The next level of resistance for QNT is at $122, which is where the coin found support during the previous sell-off. If the bulls can get the price above this level, we could see a move towards $135 in the near term. On the other hand, if the bears take control of the market, Quant could pull back to $110.
The RSI indicator is currently above 65, indicating that the currency is in the overbought zone. However, this does not mean that the uptrend is over, as the RSI can remain in the overbought region for a long period of time. This means that there is still room for the price to move higher in the short term before the bulls take a breather.
Quant's price is currently above all major moving averages, which is a bullish sign. The next resistance level is at $122, and if the bulls manage to break above this level, we could see a move towards $125 in the near term. On the other hand, if the bears take control of the market, Quant could pull back to $110.