Biggest Movers: DOGE, LINK Fall to 10-Day Lows on Wednesday

Biggest Movers: DOGE, LINK Fall to 10-Day Lows on Wednesday

Dogecoin fell to a ten-day low on Dec. 7, as the meme coin extended a recent decline, falling for a third consecutive session. Overall, cryptocurrency markets have been mostly bearish in today’s session, and are down 1.07% as of writing. Chainlink was another notable token to fall, and is currently trading by as much as 5% lower. Dogecoin (DOGE)

Dogecoin (DOGE) dropped to a ten-day low on Wednesday, with prices falling for a third straight session.

Following a high of $0.101 on Tuesday, DOGE/USD slipped to an intraday low of $0.09519 earlier in today’s session.

As a result of this, the meme coin fell to its lowest point since November 28, when prices hit a bottom of $0.0907. DOGE/USD – Daily Chart

Looking at the chart, it appears that DOGE bears are hoping to recapture this level, which is also a key support point.

This move comes as the 14-day relative strength index (RSI) was unable to stay above its own floor, at the 54.00 mark.

Currently, the index is tracking at 52.07, with its next visible point of support at the 49.25 level. Chainlink (LINK)

In addition to dogecoin, another notable token to fall in today’s session has been chainlink (LINK).

LINK/USD slipped to a bottom of $6.80 earlier in the day, which comes less than 24 hours after trading at a peak of $7.29.

Like with DOGE, today’s decline has pushed the world’s 20th-largest token to its lowest point since November 28. LINK/USD – Daily Chart

On that occasion, prices hit a low of $6.53, which was marginally above a floor at the $6.50 point.

As of writing, it appears that traders are looking to take LINK back towards this level. This comes as the RSI nears a floor of its own.

The index is tracking at 46.89, which is close to the point of support at 45.00.

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Will chainlink fall below $6.50 this week? Let us know your thoughts in the comments. Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: BTC, ETH Continue to Consolidate as USD Strengthens MARKET UPDATES | 9 hours ago Biggest Movers: LEO Rebounds on Wednesday, Whilst AVAX Falls From 3-Week High MARKET UPDATES | 1 day ago

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