Chainlink, Cosmos, Dash Price Analysis: 17 March

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Thanks to the altcoin market’s traditionally high correlation with Bitcoin, the likes of Chainlink, Cosmos, and Dash have often been too quick to follow the lead of the world’s largest cryptocurrency. The same was the case recently after BTC dropped from its ATH above $60,000 to touch $52,000 on the price charts.

However, while some recovery was afoot for Bitcoin at press time, not all alts were following suit.

Chainlink [LINK]

Source: LINK/USD on TradingView

Chainlink, the altcoin ranked 10th on CoinMarketCap, has fallen on the rankings chart over the past few weeks, with the likes of Cardano, Binance Coin, and Uniswap all overtaking it. It should be noted, however, that it was only weeks ago that LINK registered its own ATH on the charts. Like most of the market, LINK too fell on the back of a BTC-fueled depreciation, with the crypto falling by almost 10% in the span of 48 hours.

At the time of writing, while the aforementioned fall had been arrested, LINK was yet to recover most of its losses. Instead, the altcoin was consolidating its press time position.

The sketchiness of the crypto’s position was underlined by the alt’s technical indicators as while the Parabolic SAR’s dotted markers were well above the price candles, the Chaikin Money Flow was just touching zero after a brief foray into the negative zone.

Chainlink…

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