Truly a bad day for all the crypto enthusiasts, the top 10 cryptocurrencies by market value, ether (ETH), XRP, bitcoin cash (BCH), litecoin (LTC), binance coin (BNB), EOS, bitcoin SV (BSV) and stellar (XLM), have now all closed firmly beneath their 200-period moving average (MA) on the daily chart.

The majority of the top 10 altcoins had already been trending bearish below the 200-period MA for some time (as early as July) while bitcoin cash (BCH) completed the set passing beneath the average on August 28.

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