Cryptocurrencies are recovering from the bear markets. Monero, Zcash, and Chainlink are almost out of the downtrend zone as the cryptos make positive moves. Bitcoin SV and Stellar are currently in a sideways trend as the coins battle to come out of the downtrend zone.
On March 12, the entire cryptocurrency market is seen to be somehow booming, and the market's 12th largest cryptocurrency, Chainlink (LINK), is down more than 40%, the worst among the major stocks, as Bitcoinist reported. LINK has actually been surpassed by UNUS SED LEO altcoin from its usual 11th position to where it is now.
By March 9, 2020, Chainlink, Binance Coin and Monero had fallen to their respective lows as the markets held or faced further selling pressure. Conversely, Stellar and Maker have continued their sideways moves.
The cryptocurrency market has reached bearish exhaustion as Dogecoin and NEO have already shown. NEO has breached the resistance line and fled to the lower high. Lack of demand at a higher price level frustrated the bullish move. The downward move on Monero and Stellar may have been overdone as the coins consolidate at the bottom. ChainLink is in a range bound movement