【Crypto World】In recent days, a few small cryptocurrencies like Midnight (NIGHT), Tezos (XTZ), and Quant (QNT) have performed quite impressively across the entire crypto market, with 24-hour gains outperforming the broader market. However, the excitement is not over yet; their rebound momentum has hit a wall at several key moving averages.
Specifically, NIGHT encountered significant resistance at the 50-day moving average near $0.0646, causing its upward momentum to stall. XTZ is stuck at the 200-day moving average around $0.6081, showing some weakness. QNT is in slightly better shape; although it has held the critical $82 level, it is also beginning to face selling pressure near the 200-day moving average around $87.
From a technical indicator perspective, the momentum of these coins is somewhat mixed. Frankly, the situation is hanging in the balance—if they can break through these resistance levels, there may be room for further gains; if the support levels fail to hold, a correction might be on the horizon. Watching the market right now requires a lot of patience.
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DaoGovernanceOfficer
· 6h ago
empirically speaking, moving averages are just lagging indicators—why are we still treating them like gospel in 2024? the data suggests these coins hit resistance because of actual selling pressure, not because of some magic line on a chart. quick reality check: if qnt can't break 87, it's not a technical failure, it's a liquidity problem. totally different beast tbh
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NftBankruptcyClub
· 6h ago
It's the same pattern again. It rises for two days and then starts hitting the moving average... really getting on my nerves.
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0xSunnyDay
· 6h ago
It's the same old trick again. After a surge, it's firmly suppressed by the moving averages. The technical aspect really isn't attractive at all.
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PanicSeller
· 6h ago
Starting to hype again, can it break through this time? Feels like it's going to fall again.
NIGHT, XTZ, QNT have recently performed remarkably, but there are hidden clues in the technical analysis.
【Crypto World】In recent days, a few small cryptocurrencies like Midnight (NIGHT), Tezos (XTZ), and Quant (QNT) have performed quite impressively across the entire crypto market, with 24-hour gains outperforming the broader market. However, the excitement is not over yet; their rebound momentum has hit a wall at several key moving averages.
Specifically, NIGHT encountered significant resistance at the 50-day moving average near $0.0646, causing its upward momentum to stall. XTZ is stuck at the 200-day moving average around $0.6081, showing some weakness. QNT is in slightly better shape; although it has held the critical $82 level, it is also beginning to face selling pressure near the 200-day moving average around $87.
From a technical indicator perspective, the momentum of these coins is somewhat mixed. Frankly, the situation is hanging in the balance—if they can break through these resistance levels, there may be room for further gains; if the support levels fail to hold, a correction might be on the horizon. Watching the market right now requires a lot of patience.