While every cryptocurrency except for Bitcoin was entering the red zone, the king coin surged its dominance to 57.5%. The overall market capitalization was also seen depleting as it stood at $352.58 billion, during the time of writing.
Binance Coin [BNB]
Despite, the entry of several new coins with increased market cap, BNB continued to retain its position in the top ten with a market cap of $3.92 billion. During press time, the native currency of the world’s largest exchange, Binance was trading at $27.14. However, the coin was also seen plummeting by 1.25%.
The one hour chart for Binance Coin revealed the presence of bears as key indicators pointed at the same. The Chaikin Money Flow [CMF] indicator was way below the 0 revealing bearish sentiments. Relative Strength Index [RSI] also hinted a strong sell-off predilection as the RSI marker was below 50 median.
The intrusion of bears in the BNB market could further push the altcoin below a support level of $26.62.
This fairly new coin turned heads as it soared up the crypto ladder and stood as the fifth-largest cryptocurrency with a market cap of $4.36 billion. At press time, the altcoin was trading for $5.12 with a 3.58% drop in its price over the last 24-hours.
As seen in the above 1-hour chart of DOT, the Parabolic SAR indicator formed dotted lines above the candlesticks hindering any possibilities of an upward breakout. Awesome Oscillator seemed to be in sync with the Parabolic SAR indicator as it formed red closing bars. This further indicated a bearish market. The altcoin recently went below a critical support point at $5.11.
After being touted as a promising currency, LINK’s price recorded consecutive slumps. LINK stands as the eighth largest cryptocurrency with a market cap of $3.61 billion. During the time of writing, the altcoin was priced at $10.31 with a drop of 4.85%.
Despite its consistent dips, the LINK market had some hope restored as key indicators reported bull sightings. The MACD indicator prolonged its bullish crossover as the signal line remained below the MACD line. Klinger Oscillator also sided the bears as the indicator noted a bullish crossover.