The subsequent market corrections have helped investors to make a foray at lower levels that were left out during the rally in mid-August. At the time of writing, the collective market cap stood at $324 billion.
As the market sustained another pullback, Bitcoin’s price dropped to $10,097. Following the suit were several altcoins that mimicked the downside price action as they continued to sink beneath support levels.
Link was down by 8.02% over the past 24-hours which drove its price further down to the bearish realm. At the time of writing, the token was valued at $11.54 as it held a market cap of $4.038 billion and a 24-hour trading volume of $1.585 billion.
The bears were observed to be aggressively defending the resistance level of $12.76. As depicted by the dotted markers hovering above the LINK candlesticks also resisted an upward price movement. The RSI below the 50-median neutral zone indicated a sentiment of high sell pressure in the coin market. Despite the bearish pressure gaining traction, LINK’s price has continued to hold intact its immediate support of $9.53.
EOS fell by 2.76% over the past 24-hour driving its price to $2.73. At the time of writing, EOS was valued at $2.73 while recording a market cap of $2.55 billion and a 24-hour trading volume of $3.48 billion.
The downtrend for the 12th-largest coin has not lost its steam yet as signs of a bullish reversal weakened as evidenced by the red closing bars of Awesome Oscillator. Chaikin Money Flow also appeared to be in the bearish territory depicting an outflow of capital from the EOS market. If the bearish trend persists, the coin could potentially revisit the crucial level of support that stood at $2.34.
Tezos witnessed a significant drawdown since its March bull run. The 15th-largest cryptocurrency was priced at $2.47 after declining by 2.34% over the last 24-hours. At the time of writing, XTZ registered a market cap of $1.833 billion and $266 million.
MACD’s signal line continued to hover above depicting bears having an upper hand in the coin’s future. However, Klinger Oscillator hinted on a bullish crossover in the near term. If this materializes, a subsequent uptrend could push the coin to $3.43 as the coin found significant support at $1.90.