According to CoinMarketCap, a website that tracks the cryptocurrency market, the total value of all crypto assets has decreased by 1.82% over the past 24 hours. Despite this, the total value of all cryptocurrencies on the market is still more than $1 trillion.
Quant (QNT) has increased 3.08% in value over the past day, pushing its price to $167.57. Also, when compared to Bitcoin (BTC) and Ethereum (ETH), the value of QNT has gone up by 5.06% and 6.09%, respectively.
Michal van de Poppe, a cryptocurrency trader, tweeted his technical analysis of QNT yesterday evening (@CryptoMichNL). The cryptocurrency researcher believes that QNT may be set up for a bounce play.
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There are still two possible outcomes given that the price of QNT is currently trading close to the previous rebound play’s support. The next play will either take place at $140 or when the price of QNT rises once more.
Chainlink (LINK) (LINK)
is currently trading at $7.92, up 2.31% over the previous day. Additionally, LINK has grown by 4.28% and 5.35%, respectively, against BTC and ETH.
Daily LINK/USDT chart (Twitter source).
The risk/reward ratio that traders should use today for a long LINK position is approximately 4.04%, according to the crypto analyst. 26.23% is the ultimate goal for a long position in LINK.
Reserve Rights (RSR): RSR is currently trading at $0.006221 and has fallen 3.30% in price over the past 24 hours, failing to follow the trend seen with LINK and QNT. Additionally, its price declined by 1.59% and 0.54%, respectively, against BTC and ETH.
Michal van de Poppe advises starting a long position at $0.0055 or when RSR’s price is able to turn the resistance level at $0.007 into support. It might be best to wait for RSR’s price to decrease even further to $0.0055, given the current drop in price over the previous 24 hours.
Cardano (ADA) is currently trading at $0.4016, down 4.35% from the previous day. Similar to RSR, the price of ADA has decreased by 2.48% and 1.34% against BTC and ETH, respectively.
The crypto analyst thinks that ADA investors currently have a long-term, significant buy opportunity. He even goes so far as to speculate that the price of ADA may be close to its lowest point for the current bear market.
Related: Google is still advertising crypto-phishing sites, says the warning.
All of the information in this price analysis, including the views and opinions expressed within it, has been shared in good faith. Readers are required to conduct their own due diligence and research. The reader is solely responsible for any actions they take.Coin Edition and its affiliates are not responsible for any direct or indirect loss or damage.
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