Crypto Price Analysis July 12: MATIC, LRC, SAND, CVX, UNI

Key Insights:

• Polygon led the few altcoins that were rallying with an almost 10% rise before succumbing to the bears.
• Convex Finance was among the top losers following the 7.3% decline.
• Bitcoin and Ethereum both fell to $19k and $1k, respectively.

The total value of the cryptocurrencies in the market fell to $858 billion today, losing the $900 billion mark again.

Plus, with the king coin and the altcoin king both suffering at $19k and $1k, respectively, the rest of the altcoins were bound to fall today.

Polygon (MATIC)

Trading at $0.561, MATIC remained virtually unmoved today following the 7.08% decline in price noted this week.

With the Awesome Oscillator highlighting the beginning of bearish sentiment in the market, the price could take a turn for the worse, falling to the $0.5 mark.

Loopring (LRC)

The altcoin, following the rest of the market, slipped by 9.4% in the span of just five days. Trading at $0.3782, LRC has already lost half of the recovery it made in June.

The Bolling Bands’ convergence highlights that the volatility is reducing, but with the candlestick moving below the bias, the price going forward could witness further price falls.

The Sandbox (SAND)

The second biggest Metaverse token, SAND, is no alien to the bears either, with the altcoins depreciating by almost 14.6% over the past week.

The Chaikin Money Flow has been noting outflows over the same period, making SAND holders just as panicky about possible price falls as other investors.

Convex Finance (CVX)

CVX, unlike the rest of the market, is actually experiencing a downfall but the same only began three days ago this week. This kind of growth of 18.75% fall will be harmful as it could wipe out a significant chunk of the July first week recovery of 82.14%.

The MACD indicator in the case of CVX indicated the oncoming bearishness and a bearish crossover could keep afloat for a while.

Uniswap (UNI)

The biggest decentralized exchange in the market is not safe from the broader market bearish cues either declining by 13.84% to trade at $5.57

The Relative Strength Index (RSI) continues to stay in the bullish zone for a week now, which will help recoup the recent losses for UNI.