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Crypto Price Analysis June 14: HNT, LINK, FTM, TRX, MATIC

By:
Aaryamann Shrivastava
Published: Jun 14, 2022, 19:23 UTC

While the king coin remained confined to a 1% decline, the rest of the market displayed mixed sentiment, with major cryptocurrencies rising yesterday.

Crypto Price Analysis June 14: HNT, LINK, FTM, TRX, MATIC

In this article:

Key Insights:

  • The altcoin king Ethereum followed the footsteps of Bitcoin.
  • The likes of Helium, Chainlink, and Fantom led the rally.
  • Tron and Polygon were among the cryptos that continued declining.

For some, yesterday was the lowest point, for many others, the downtrend continued, and investors witnessed losses beyond expectations.

On the other hand, many cryptocurrencies also began recovering the losses witnessed over the course of the week, setting themselves up for a further rise.

Helium (HNT)

HNT witnessed an almost 20% incline leading the rally of many cryptocurrencies over the past 24 hours. This helped the altcoin recover more than half of its 30.91% loss from the crash that took place over the weekend. 

The altcoin will continue rising further since this spike was organic. This is verified by the vast inflows noted on the Chaikin Money Flow, indicating investor interest took the coin up to trade at $9.82.

Following Helium’s lead was Chainlink, which, although it did not rise significantly, did manage to increase by 8.63% in the span of a single day.

LINK still has a long way to go since it still has to recover its 36% crash and recover to its $9 trading mark.

This might be difficult since, despite the green candles, the MACD is exhibiting an active bearish crossover, with the bearishness displaying no sign of reduction.

Should the red bars continue making an appearance, LINK might end up declining instead of rising from its $6.4 trading price.

Fantom (FTM)

Unlike other altcoins, Fantom treaded on both sides as even though it closed in red at the time of writing, its green candle on June 13 helped the altcoin remain 5.2% above the lows.

However, such a minute rise is not enough for the crypto in order to recover from the almost 39% loss it witnessed during the crash.

Additionally, despite posting greens on the chart, the active downtrend as displayed by the Parabolic SAR’s white dots might keep the prices consolidated for a while.

Tron (TRX)

Continuing the downtrend was Tron which in the last four days declined by 30.6%, with most of it coming from the 12% fall from the previous 24 hours.

Trading a $0.055, TRX has been depreciating due to the broader market bearish cues, and adding to it was the USDD depegging which led to heavy TRX liquidations.

Although it did not push the altcoin into the oversold zone, the Relative Strength Index (RSI) is moving pretty close to the threshold. Another red candle might do the job.

Polygon (MATIC)

Another among the list of altcoins in a downfall was Polygon’s MATIC. The crypto plunged by 35.7% in the span of 4 days, with a decline of 5.2% observed yesterday.

Oscillating at $0.4, the altcoin as it is could not recover from the May 9 crash, and now recovering from this might further frustrate its investors.

Besides, the bearishness is only increasing further as the red bars continue appearing on the Awesome Oscillator. The indicator broke its almost month-long streak of green bars thanks to the market crash.

About the Author

Holding a Mass Media Degree has enabled me to better understand the nitty-gritty of being a journalist and writing about cryptocurrencies’ news and price movements, effects of market developments, and the butterfly effect of individual assets nurtured me into a better investor as well.

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