The global cryptocurrency market has fallen to a new lowest level as of June 18, 2022. The market capitalization of the world’s cryptocurrencies fell below $ 1 trillion at the time of the press to $ 844.17 billion. The price of almost all top coins is worth half or less than the highest ever.
Dogecoin (DOGE)
Source: TradingView, DOGE / USDT
At the time of this analysis, DOGE was valued at $ 0.05328. Dogecoin, famous as a meme coin, has decreased by 6.66% in the last 24 hours. Its trading volume has decreased by 35.12% since June 17th. According to CoinMarketCap data, the market capitalization of coins has also fallen by 6.89%.
In addition, tokens have consistently deteriorated since August 2021, with most candles closing more bearish than bullish. The RSI is below Neutral 50 and has barely challenged the resistance since May 2022. This clearly shows that the token is clearly in the bear market. In particular, the RSI surpassed Neutral 50 in April 2022.
OBV has been lying sideways for most of the recent sessions. The indicators show that the momentum is biased towards the seller.
Shiba Inu (SHIB)
Source: TradingView, SHIB / USDT
There was no luck on the side of the Shiba Inu. The current price is $ 0.000007933, down 3.27%. According to CoinMarketCap data, market capitalization fell 3.31%, but trading volume fell 23.80%.
Like DOGE, the price of Shiba Inu has been declining consistently since November 2021. The market has not been very favorable to the Shiba Inu, as tokens have consistently suffered losses over the last six months.
Since the end of April, the RSI has been primarily below Neutral 50. The token is under the influence of the bear. OBV declined in December 2021 and is currently moving sideways for more than 6 months.
Chain link (LINK)
Source: TradingView, LINK / USDT
LINK has fallen 9.14% in the last 24 hours and was valued at $ 5.90 at the time of the press. Its trading volume decreased by 25.26%. Market capitalization also recorded a 8.46% decline.
Like the previous two coins, LINK has been systematically declining since September 2021.
At the time of writing this article, the RSI was below the neutral level. In addition, the OBV reading clearly suggested that the bear was in the driver’s seat.
