56 RSI For $QTUM: High Potential Long-Term Investment Opportunity With Bullish Lead In Growth This Week

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QTUM was $6.33 on Monday and climbed to $8.15 yesterday. With an RSI of 56, QTUM is seeing more gains than losses, and could be a strong contender for those wanting to invest in crypto during this ‘dip’. Here we have a technical analysis outlining some market behaviour over the last couple of days.

Technical Analysis: GALA Climbs 16%, Qtum Leads Tuesday's Bulls

GALA was one of Tuesday’s big gainers, as cryptocurrency markets were once again trending upwards. Overall, the cryptocurrency market capitalization is around 4% higher as of writing.

Biggest gainers

On Tuesday, crypto markets were green across the board, as traders once again re-entered the marketplace following the uncertainty caused by the tensions between Russia and Ukraine.

Gala (GALA) was one of these bulls, climbing by as much as 16% earlier in the session, however it was qtum (QTUM) which led today’s gainers.

QTUM/USD, which was trading at a low of $6.33 on Monday, climbed to an intraday high of $8.15 earlier today.

Today’s move came as the price of QTUM rallied from support of $6.35, all the way towards resistance of $7.90 and beyond.

Technical Analysis: GALA Climbs 16%, Qtum Leads Tuesday's Bulls
QTUM/USD – Daily Chart

However, as prices hit the recent ceiling, profit-takers began to liquidate their positions, which led to QTUM falling from its high.

This came as price strength also found some resistance, with the 14-day RSI hitting its ceiling of 56, an area which has acted as a point of uncertainty in the past.

Some bulls are likely to still remain in QTUM/USD, in hopes that a breakout of this resistance will take prices above $9.

Biggest losers

As the majority of the crypto top 100 was trading higher on Tuesday, finding a bear was no mean feat.

Tuesday’s biggest loser, relatively speaking, was symbol (XYM), which fell by close to 0.70% on the day.

The price of XYM/USD, which hit a high of $0.1782 yesterday, fell to an intraday low of $0.1725 on Monday, as markets seem to be heading for support.

Technical Analysis: GALA Climbs 16%, Qtum Leads Tuesday's Bulls
XYM/USD – Daily Chart

This came as price strength weighed at the 45.15 ceiling of the RSI, with bears pushing momentum lower.

In addition to this, the moving averages of 10-days, and 25-days appear to be set for a downward cross, which could mean the floor of $0.1616 may not only be hit, but potentially broken.

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