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Biggest Movers: QNT Close to 2-Month High Despite Recent Declines, NEAR Moves Toward 1-Year Low

QNT was trading close to recent highs on Wednesday, as prices were battling through a turbulent session. The token was mainly in the green on hump day, falling by as much 7% on the day. NEAR also declined, with prices heading toward a one-year low.

QNT remained close to a two-month high on Wednesday, despite prices falling by as much as 7% earlier in today’s session.

The token dropped to an intraday low of $78.46 during Wednesday’s action, as prices moved towards support at $75.

Since this drop, prices have somewhat risen, with the token now trading at $80.20, which is around $10 away from last week’s high.

This peak at $90.35 was the highest price QNT/USD has traded at since June 9, however following this high, bearish sentiment returned as traders likely liquidated their earlier positions.

Recent gains in QNT have come as the 10-day moving average continued to climb against the 25-day MA, however this momentum was halted by the recent $90.35 price ceiling.

Although bears have contributed to a volatile week of trading, momentum is still somewhat bullish, which could intensify in upcoming sessions.

NEAR was hovering close to a one-year low on Wednesday, as prices fell for a fourth consecutive session.

Following a high of $3.33 on Tuesday, NEAR/USD fell to a lower low of $3.07 on hump day, which is its lowest level in two weeks.

This bottom is marginally above the bottom on June 20, when prices fell to $2.65, which was the lowest point for NEAR since August 2021.

As of writing, prices of the token continue to trade close to support of $3, which could be an ideal reentry point for bulls.

Recent history shows that bulls typically have bought close to the support point, and this could re-occur, should the 14-day RSI remain above its own floor.

This is at the 37.9 point, which has held firm for the past three weeks, and should this extend into a fourth, NEAR could move closer to $4.

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Will NEAR fall to a new 11-month low this week? Let us know your thoughts in the comments.


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