Four major cryptocurrencies—Chainlink (LINK), Cardano (ADA), Ethereum (ETH), and Dogecoin (DOGE)—are currently facing renewed bearish momentum, with several trading near significant support levels and indicators flashing warning signs for additional downside.
Chainlink eyes death cross as support weakens
Chainlink, a decentralized oracle network bridging smart contracts and real-world data, is seeing a potential death cross on its daily chart. LINK trades near $10.49, remaining below all major moving averages, which highlights ongoing bearish sentiment.
Since reaching a peak of approximately $15.70 in late September, LINK has declined by nearly one third. The 50-day exponential moving average (EMA), now around $11.70, appears poised to cross below the 100 EMA at $11.40, narrowing the gap and raising concerns among traders.
After losing the longest moving average at roughly $11 in early November, LINK has failed to reclaim it. Daily trading volume has eased in November, following higher activity during the sharp October decline, potentially signaling a pause in aggressive selling.
The relative strength index (RSI) is hovering close to 50, reflecting a neutral short-term outlook. Despite fundamental support from traditional financial firm Charles Schwab, which announced in August plans to add LINK to its crypto platform alongside Solana and Avalanche, LINK now trades below its price at the time of the announcement. Schwab has not provided a launch date.
Recent months have seen LINK lose its key moving averages, and a death cross could increase pressure on the price if $10 fails to hold as support; however, waning volume may limit further downside.
If LINK drops below the $10 mark, a level buyers have defended twice in recent weeks, further declines could follow unless sentiment reverses.
Cardano remains under persistent selling pressure
Cardano, a proof-of-stake blockchain platform known for its focus on academic research and peer-reviewed development, continues its steady slide. ADA trades near $0.1776, having dropped roughly 37% since its early October top at $0.28. The token touched $0.1715 this week, returning to price levels last seen before its late-summer rally.
The persistent downtrend leaves ADA lacking significant momentum or fresh catalysts. The RSI has fallen below 40 and is approaching oversold territory, which could potentially slow selling pressure. November’s daily trading volume has remained among the lowest in recent months.
Recent developments have focused on infrastructure improvements, such as the Cardano Foundation supporting the transition of Cosmos IBC to Linux Foundation governance, an institutional step rather than a direct market catalyst.
ADA faces the risk of falling towards the $0.16 range if volume remains subdued and no bullish drivers emerge in the near term.
Until trading activity rebounds, further losses remain a possibility for Cardano.
Mini dictionary: Cosmos IBC is an interoperability protocol allowing different blockchains to communicate and transfer assets securely. It is a core part of the Cosmos ecosystem’s vision for a connected network of independent blockchains.
Ethereum in danger of losing $2,000 support
Ethereum, the leading smart contracts platform, now trades near $2,095 after a notable decline from late October levels above $2,230. The asset is down about 25% from its September peak window near $2,800, erasing most of its late-summer gains.
ETH currently moves below all major moving averages, with $2,300—previously a key support—now acting as resistance. The RSI is close to 30, signaling an oversold condition that could allow for a short-term rebound. However, unless ETH recovers above $2,230, the trend remains firmly bearish.
| Level | Current Price | Key Support | Key Resistance |
|---|---|---|---|
| Ethereum (ETH) | $2,095 | $2,000 / $1,900 | $2,230 |
| Cardano (ADA) | $0.1776 | $0.16 | $0.23 |
| Chainlink (LINK) | $10.49 | $10 | $11 |
| Dogecoin (DOGE) | $0.0694 | $0.07 | $0.0765 |
Trading volumes for ETH have decreased, and traders are watching the $2,000 level closely. A break below this mark could send the price toward $1,900, where Ethereum consolidated over the summer months.
Dogecoin holds support despite technical pressures
Dogecoin, a meme-inspired cryptocurrency known for its vibrant community and wide adoption, remains anchored near $0.07 support, currently trading at $0.0694. The token briefly dipped to $0.0672 before rebounding to close near the support area.
DOGE previously rallied from this level in late August, aided by a surge in buying volume. While technical indicators now show the token below all major moving averages— with the closest, at $0.0765, acting as resistance—trading volume has declined, and RSI now trends around 35, suggesting a relatively neutral if cautious outlook.
Dogecoin also saw improvements to its testnet infrastructure through updates to the L2Reth protocol, enhancing reliability for node restarts, snapshot restoration, and deployment configurations.
Mini dictionary: L2Reth refers to a Layer 2 protocol implementation for Ethereum-compatible blockchains that aims to enhance speed and efficiency for developers and users.
These technical updates are unlikely to significantly influence market price in the near future, but provide a signal that development activity continues despite challenging conditions.
