A crypto carnage was underway as the entire market was seen turning red. Prominent cryptocurrencies were seen experiencing huge losses. It seemed like a bad day for the crypto industry as the overall market cap was also plummeting by 4.78%. At the time of writing, the global market cap of the crypto-verse was at $334.63.
Chainlink [LINK]
Mimicking the trend of the entire crypto market, LINK was recorded dipping by 9.72% in the last 24-hours. While the coin had tried hard to go beyond $10, the latest sentiment in the market pushed its price to $9.22. At the time of writing, the market cap of the coin was $3.23 billion.
The bears had taken over the LINK market and could further push the altcoin to $8. The Parabolic SAR indicator formed dotted lines above the candlesticks in LINK’s short term price chart. This revealed bearish signs in the market as the dotted lines hindered the possibility of an uptrend. The Chaikin Money Flow marker which was way below zero highlighted the presence of bears.
Monero [XMR]
XMR seemed to be the worst affected coin as it was plummeting by over 12%. As the coin was on its way to hit $100, the privacy coin went back to $98.09. Despite being around for quite a while, the coin was at the sixteenth position with a market cap of $1.74 billion.
Monero was gearing up for a journey downhill as key indicators were suspecting the presence of bears. Earlier today, the Klinger Oscillator had undergone a bearish crossover and MACD followed suit. The signal line was above the MACD line and was displaying bearish sentiment in the XMR market.
Polkadot [DOT]
After garnering attention over its market cap, DOT stumbled down to the seventh position. During the time of writing, the altcoin’s market cap was $3.51 billion and the daily price change was at a negative 8.51%. DOT was trading at $4.12, at press time.
The entire crypto market was enduring a bear attack. Bears had infiltrated the fairly new DOT market as well. The Relative Strength Index [RSI] was seen revealing extreme seller’s sentiments. The RSI marker was in the oversold zone and didn’t seem to know the way back into recovery. The Awesome Oscillator formed red closing bars and indicated the presence of bears in the DOT market.