The world’s largest cryptocurrency, Bitcoin sustained a major pullback after a strong surge over the past weeks which propelled the market cap of the entire cryptocurrency market to $195 billion while the king coin’s dominance slid to 64.1%.
Source: CoinStats
The price movement of Bitcoin has been closely mimicked by other peer cryptos, such as Litecoin, Chainlink, Dogecoin, with correlation coefficients of 0.88, 0.64 and 0.68 respectively; these alts have also seen notable declines following the latest downside correction.
Litecoin [LTC]:
Source: LTC/USD on TradingView
A bullish recovery could be around the corner for LTC. At press time, the silver crypto was priced at $42.18 after a minor decline of 0.91% over the last 24-hour as it held a market cap of $2.72 billion and a 24-hour trading volume of $3.30 billion.
Resistance: $63.34, $83.35
Support: $30.79
MACD: The MACD line above the signal line depicted a bullish phase for the coin.
Chaikin Money Flow: The CMF also aligned with the bulls depicting an inflow of capital in the LTC market in the near-term.
Chainlink [LINK]:
Source: LINK/USD on TradingView
Over the last couple of months, Chainlink has forged notable partnerships which has positively impacted the coin’s price. LINK was valued at $3.23 after falling by 3.3% over the past 24-hours. At press time, it registered a market cap of $1.12 billion and a 24-hour trading volume of $575.6 million.
Resistance: $4.74
Support: $1.75
Parabolic SAR: The dotted markers below the LINK price candles indicating a bearish phase for the coin.
Awesome Oscillator: The closing green bars also suggested a bullish trend for LINK.
Dogecoin [DOGE]:
Source: DOGE/USD on TradingView
Dogecoin [DOGE] rallied steadily above the $0.003-mark after breaching major psychological resistances along the way. DOGE has been in a consolidation phase currently despite minor pullbacks.
The popular memecoin was valued at $0.0019 after a fall of 0.48% over the last 24-hours. Additionally, DOGE recorded a market cap of $244.1 million and a 24-hour trading volume of $164.2 million.
Resistance: $0.0025, $0.0019
Support: $0.0014
Klinger Oscillator: KO depicted a bearish picture for the coin.
Relative Strength Index: RSI, however, was well above the 50-median line which suggested a positive trend among the investors in the DOGE market.