Price Analysis

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

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. 

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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 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):


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?

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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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