Link is back, Sushi in top 100

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This past week, analysis showed a sharp decline in bitcoin and altcoin market such as Ethereum, ripple, and chainlink (LINK) against the US Dollar. LINK broke many supports near $15.00 and the 100 simple moving average (4-hours) to move into a bearish zone.
The decline gained pace below the $13.50 and $12.50 support levels. It even broke the $10.00 level and traded to a new monthly low at $9.21. Recently, the bulls came into action and the price pumped above the $10.00 pivot level.
There was a break above the 23.6% Fib retracement level of the downward move from the $17.74 high to $9.21 low. Chainlink rallied 20% and it even broke the $13.00 level.
But the altcoin market analysis displays green after losing up to $80 billion of total market cap in less than a week. Ethereum, which bottomed at $310, has increased by nearly 6%, and ETH is trading at $345.
Chainlink is among the most impressive gainers from the top 10 after a 20% surge. LINK’s price at over $12 and market cap above $4.3 billion have taken the asset back to the top 5, surpassing Bitcoin Cash.
Polkadot gains 15% to $4.5, while Binance Coin is up by 17% to $22. BNB has reacted to news from the leading cryptocurrency exchange, which announced its own farming platform, dubbed Binance Launchpool. According to the statement, it will go live on September 9th, and it will allow traders to receive new token rewards in return for staking BNB, BUSD, and other coins.
The greatest altcoin gainer by analysis is SushiSwap’s governance token – SUSHI. Following controversial developments that included the lead developer selling all his coins and transferring control over the protocol to FTX’s CEO, the asset is up by 110% in the last day. SUSHI’s price of $2.80 has firmly positioned it in the top 100 coins, after dropping out yesterday.
UMA (35%), Ocean Protocol (33%), Band Protocol (30%), Blockstack (25%), NEM (22%), Ren (20%), Serum (20%), NXM (20%), Ampleforth (19%), and Armweave (17%) are also some of the double-digit gainers.
The crypto market cap has increased by $13 billion from yesterday’s low of $313 billion.
 
 

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