Price Analysis

Market Moves Bearish With XTZ Sinks 9%, LINK 8%, MIOTA 7% Loss

news-image

The week gradually coming to an end actually marked the onset of what’s thought to be a supposed short bearish trend. As predicted, both bitcoin and many altcoins are sharing the brunt of the market brutality. 

At the moment, BTC is changing hands around $11,400 while ETH seems to have retraced back to the $440 price mark. Amid the ongoing price purging among top cryptos, relatively lower market cap coins like LINK, XTZ and MIOTA are also accruing decent losses. 

#1. Tezos (XTZ 9% Loss):

tezos-charts

Tezos is trading at $3.11 with an extra downtrend apparent in the short term. The coin facilitates a poor market feeling as traders swing bearish, driving its price towards lower heights.

Tezos is down 9% in the past 24 hours. In the 2-week condition, however, the coin also lost about 15% while i recorded around 190% gain in the yearly scale.

Technical points

XTZ/USD 24-hour graph demonstrates certain crucial resistance levels. The initial exists at $3.10 while the next lies instantly upwards at $3.2. As prices attempted to burst of those two zones, the following resistance at $3.4 proved a bit difficult, making XTZ price fall flat back to the $3.10 area.

  • Next major resistance lies at $3.4
  • Next major support lies at $3.0
  • The Resistance Strength Index has penetrated the 80.0 RSI level and may cause a retracement shortly.

Also Read : Tezos Price Prediction-How Much Will XTZ Reach in 2020?

#2. ChainLink (LINK 8% Loss):

chainlink-charts

Also captioned in today’s top losers, we analyze Chainlink. 

This precious crypto which has already fulfilled more than 60% gain within the last 30 days is filing some losses this time around.

The Coin is up by over 715% in the last year and up to 60% within the last month. Although it forfeited 0.6% in the last hour, LINK is also unfavorable in the daily condition.

Technical Indicators

  • Next major resistance at $15.0
  • Next major support level at $14.50
  • Resistance Strength Index joined the 80.0 overbought condition and may ride prices down in a reasonable correction.

LINK is trading at $14.78 and its market cap is fluctuating around $5.6 billion.

Also Read : Chainlink Price Prediction 2020 – How High Will LINK Reach?

#3. IOTA (MIOTA 7% Loss):

IOTA chart

MIOTA is the final coin in this category of top loser’s roster of the day. 

The top loser lost around 7% in the last 24 hours. The coin’s market sentiment is nearly completely bullish with 90% positivity.

MIOTA is still up by nearly 37% since last year and up by 1.0% since the last hour. The coin, regardless, was enhanced by 13% within the last month but is down by around 5% in the last seven days.

MIOTA is currently trading at $0.339 with its 24-hour market cap stable at roughly $1 billion. In addition, the coin’s exchange volumes within the last day are approximately $30 million.

Also Read : 6 Defi Tokens Priced Over $11000, Are these Defi Tokens Bitcoin Competitors?

Tags
Show More

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Dare Shonubi

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

Related Articles

Back to top button
Close
Close