- ADA and LINK followed Bitcoin’s crash, losing 6.39% and 8.13% of their values, respectively.
- LINK’s $15.09 support had been breached but a buying opportunity could appear between $14.50 and $15.
- ADA may drop below $0.50 as downward momentum continues to increase.
After enjoying an extended uptrend period, major altcoins, including Cardano (ADA) and Chainlink (LINK), are falling apart. Although other major altcoins are not left out, ADA and LINK are two of the most affected out of the top 20 cryptocurrencies.
At press time, LINK was down 8.13% in the last 24 hours while trading at $15.01. The value of ADA, on the other hand, dropped by 6.39%, with its price at $0.56. The nosedive came as a shock to the market, especially as there had been predictions that ADA could rise above $0.75 in the short term.
Market players have also been bullish on LINK, noting that the cryptocurrency would be one of the best performers of this cycle. However, rallies are not always linear and there are periods of correction, and this seemed like one.
It is also noteworthy that the recent crash was caused by Bitcoin (BTC). According to CoinMarketCap, BTC briefly plunged to …
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