During press time, some cryptocurrencies seemed to be recovering from yesterday’s setback while a few others were still seen slumping. The overall market capitalization of the crypto industry witnessed consecutive fluctuations and stood at $347.55, at the time of writing. Stablecoin Tether’s market cap hitting a whopping $15.06 billion has undoubtedly aided the aforementioned digits. Bitcoin’s dominance remained below 60%, precisely at 57.89%
Chainlink [LINK]
LINK’s massive growth in price had left the crypto-verse in awe of the altcoin. However, LINK was seen lagging behind as the coin was dropping 4.63% At the time of writing, the eighth largest coin with a market cap of $3.73 billion was trading for $10.64.
LINK recently broke past a major support line at $13.60 and key indicators suggest the coin could continue its journey downhill. Dotted lines were formed above the candlesticks by the Parabolic SAR indicator depleting the chances of an upward breakout. The Chaikin Money Flow [CMF] marker was below 0, further highlighting the presence of bears.
Litecoin [LTC]
LTC was seen plummeting in terms of market cap over the past few months and currently stands at the tenth position with a market cap of $3.17 billion. While several other altcoins were witnessing serious downfall, LTC experienced a dainty change of – 0.02% in its price. At press time, the altcoin was priced at $48.44.
The MACD indicator was currently dwelling in the bearish territory following a bearish crossover that took place in August. However, the MACD line and the signal line were seen almost trying to converge. This could soon result in a bullish crossover. The Klinger Oscillator, however, sided the bears with a bearish crossover.
Polkadot [DOT]
This coin came in like a storm and overtook several prominent altcoins in terms of market cap. DOT climbed up the crypto ladder and currently stands as the fifth-largest cryptocurrency with a market cap of $4.38 billion. Similar to LTC, DOT experienced a slight drop in its price of 0.34% and the altcoin continued to trade at $5.15.
The one hour chart for DOT indicated a bearish sentiment as the Awesome Oscillator formed red closing bars. However, the Relative Strength Index [RSI] highlighted neutrality as the RSI marker stood at 50 median, during press time. The prolongation of bears in the DOT market could push the altcoin below $4.99, a critical level of support.