On December 7, Dogecoin hit a ten-day low as the meme coin continued its recent downturn, plummeting for a third straight session. Overall, today's session on the cryptocurrency markets has been primarily bearish; they are currently down 1.07%. Another prominent coin to decline was Chainlink, which is presently trading 5% lower.
Dogecoin (DOGE)
On Wednesday, Dogecoin (DOGE) prices fell for a third straight session, reaching a ten-day low.
DOGE/USD dropped to an intraday low of $0.09519 earlier in today's session after reaching a high of $0.101 on Tuesday.
This caused the meme coin to drop to its lowest level since November 28, when prices plunged to a low of $0.0907.
Looking at the chart, it seems like DOGE bears want to retake this level, which also serves as a crucial support level.
This movement occurred as a result of the 14-day RSI failing to maintain above its own floor, which is the 54.00 level.
The index is currently tracking at 52.07, and its next obvious level of support is at 49.25.
Chainlink (LINK)
Chainlink has also fallen significantly in value during today's session in addition to dogecoin (LINK).
After trading at a height of $7.29 earlier in the day, LINK/USD fell to a low of $6.80 earlier in the day.
The 20th largest token in the world has dropped to its lowest level since November 28 as a result of today's collapse, similar to DOGE.
Prices fell to a low of $6.53 on that occasion, just above a floor at the $6.50 mark.
LINK appears to be being taken back near this level by traders as of this writing. This occurs as the RSI approaches its own floor.
At 46.89, the index is tracking closely behind the 45.00 level of support.
