For decades, gold has been considered a safe haven when it comes to inflationary periods and protecting your savings at a fairly low risk. The price of the precious metal has increased by about 600% over the course of the last ~20 years, surpassing the returns of indexes such as the S&P 500, Dow Jones Industrial and many others.
Chainlink (LINK) price has risen above the $5.77 support level, but was not able to surpass the 21-day line SMA. There is a risk that the altcoin will fall if it tries to break above the 21-day line SMA.
The year 2022 was a disaster for cryptocurrency investors. Bitcoin is currently trading more than 72% below its all-time high of over $65,000 reached last November.
Uniswap (UNI) price is falling below the moving average lines. As long as it is in the bearish trend zone, there is a risk that the cryptocurrency value will continue to fall.
As altcoins enter bullish trend zones, cryptocurrencies are making a comeback. However, once the market enters the overbought zone, it is unlikely that prices will continue to rise. If the overbought region rejects cryptocurrencies, selling pressure could return.
There are doubts about the upside correction in cryptocurrencies, as altcoins are under selling pressure every time they rally. The upside moves are merely a "bull trap".
Cryptocurrencies are in a downtrend after being rejected at the superior resistance levels. Altcoins are in a move below the moving average lines. There is a risk of further decline when the price bars are below the moving averages.
On August 17, cryptocurrencies experienced a meltdown as altcoins fell back to previous lows. The worst-performing cryptocurrencies risk further declines if current support levels are breached. Cryptocurrencies will continue another round of downtrend.