Biggest Movers: DOGE Hits 3-Week High on Saturday
Dogecoin surged to a three-week high to start the week, as the token rallied for a second consecutive session. Overall, the meme coin has now traded higher for four of the last five days. Quant was another notable gainer in today’s session, moving to an eight-day peak. Dogecoin (DOGE)
Dogecoin (DOGE) raced to a three-week high to start the weekend, as the meme coin moved to extend recent gains.
Following a low of $0.08695 on Friday, DOGE/USD rallied to an intraday high of $0.09474 on Saturday.
This gain in price has pushed the token to its strongest point since November 8, when it was trading at a high of $0.1125. DOGE/USD – Daily Chart
Looking at the chart, bullish sentiment has climbed higher following a breakout from the 52.00 mark on the relative strength index (RSI).
In addition to this, the 10-day (red) moving average is now upward facing, which is typically a sign of pending surges in price.
Currently, the RSI is tracking at the 54.66 point, with the next visible resistance point at the 60.00 mark. Quant (QNT)
Quant (QNT) was also in the green on Saturday, with the token rose for a fifth straight day.
QNT/USD rose to a peak of $122.06, less than a day after prices were trading at a bottom of $111.56
As a result of this mini-bull run, quant is now trading at its highest point since Nov. 18. QNT/USD – Daily Chart
Honing in on the chart, it appears that bulls are attempting to move the token to a resistance level of $125.00.
In order to achieve this, the RSI, which is currently tracking at 46.56, will need to collide with a ceiling of its own at 52.00.
The 10-day (red) moving average is now also closing in on its 25-day (blue) counterpart, which could lead to an eventual upward cross.
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What is behind this weekend’s bullish sentiment in cryptocurrency markets? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH Surges Above $1,200 to Start the Weekend MARKET UPDATES | 10 hours ago Biggest Movers: XRP Climbs to 3-Week High, DOGE Nearly 10% Higher MARKET UPDATES | 1 day ago
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