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LINK, XTZ, MIOTA Record Losses As Markets Swing Bearish

Chainlink [LINK] and many other altcoins today are taking the brunt of the force between YFI and BTC. The crypto markets are experiencing a massive plunge which in turn, is causing a general downtrend among cryptos of different classes. 

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#1. ChainLink (LINK 11.9% Loss):

Also featured in today’s top losers, we analyze Chainlink. This valuable crypto which has already attained more than 105% gain within the last one month is documenting some losses this time around.

The Coin is up by over 560% in the last year and up to 105% within the last month. Although it lost 0.6% in the last hour, LINK is also negative in the daily timeframe.

Technical Indicators

  • Next major resistance at $17.0
  • Next major support level at $16.0
  • Resistance Strength Index joined the 80.0 overbought condition and may ride prices down in a reasonable correction.

LINK is trading at $16.8 and its market cap is fluctuating around $4.0 billion.

#2. Tezos (XTZ 10% Loss):

Tezos is changing hands at $3.85 with extra downtrend obvious in the short term. The coin nurtures a good market emotion as traders swing bullish, driving its price towards higher heights.

Tezos is down 12% in the past 24 hours. In the 2-week timeline, however, the coin has progressed by about 18.5% while it also recorded around 220% in the yearly scale.

Technical points

XTZ/USD 24-hour graph indicates three important resistance levels. The first exists at $3.80 while the next lies immediately upwards at $4.0. As prices tried to break out of those two zones, the following resistance at $4.0 proved a bit difficult as prices fell flat to break the level.

  • Next major resistance lies at $3.8
  • Next major support lies at $4.0
  • The Resistance Strength Index has penetrated the 80.0 RSI level and may cause a retracement shortly.

#3. IOTA (MIOTA 9.1% Loss):

MIOTA is the last coin in this classification our top loser’s roster of the day. The top loser is down by 9.1% in the last 24 hours. The coin’s market sentiment is almost entirely bullish with 90% positivity.

MIOTA is still up by nearly 60% since last year and up by 1.0% since the last hour. However, the coin improved by 52.5% within the last month and is up by around 2.7% in the last seven days.

MIOTA is currently trading at $0.377 with its 24-hour market cap stable at $1 billion. In addition, the coin’s exchange volumes within the last day are $30 million.

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Dare Shonubi

Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.

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