The entire crypto market was struck by the red wave. The bulls were seen leaving the market as the bears were getting settled. The market cap of the crypto industry also followed suit as it depleted by 2.07% in the last day, pushing the overall market cap to $388.53 billion. Bitcoin’s dominance was the only metric that was seen increasing as it was noted at 62.3%.
After enjoying their stay in the DOT market, the bulls had packed their bags as the altcoin was dipping by 6.54% over the last day. The coin was trading for $4.20, at the time of writing and its market cap was a little over $4 billion.
The short term price chart of DOT affirmed the presence of bears in the market. The Relative Strength Index [RSI] revealed strong sellers’ sentiment as the RSI marker was in the oversold zone. The Klinger Oscillator affirmed bear momentum in the DOT market with the formation of bearish crossover.
ETH went past $400 multiple times this year, however, this stay was always brief. Yet again, repeating its usual trend, ETH experienced a pullback as it stood at $383.18, during press time with a 2.39% drop over the past 24-hours. The coin had also endured a slump of 7.1% over the last seven days.
Strong bearish sentiment was exhibited in the one-hour price chart of ETH. The Parabolic SAR indicator was quick enough to layout dotted lines above the candlesticks blocking the chances of an uptrend. The Awesome Oscillator acknowledged bear invasion with the formation of red closing bars.
Binance Coin [BNB]
Changpeng Zhao’s cryptocurrency, the Binance Coin [BNB] was also part of the crypto carnage. The coin was secured in the seventh position with a market cap of $4 billion. At the time of writing, BNB was trading for $29.77 with a 3.59% drop in the last 24-hours.
Recovering from its recent bullish crossover, the signal line was seen sluggishly creeping over the MACD line. With this, the MACD indicator underwent a bearish crossover. The Chaikin Money Flow [CMF] indicator restored a sense of hope in the BNB market as the CMF marker was in the bullish zone which is above zero.