Bitcoin (BTC) dropped below $56,000 on Nov. 19, completing a near 20% correction from the all-time high. The Crypto Fear & Greed Index, which remained in the greed zone for most of the past two months, has plummeted into the fear category with a reading of 34.

Cryptocurrency research firm Delphi Digital said in a recent report that the sell-off in Bitcoin was “largely driven by a wave of liquidations rather than a fundamental shift in narrative,” and the analysts expect the drawdown to be “relatively short-lived.”

Daily cryptocurrency market performance. Source: Coin360

The recent correction does not seem to have shaken the long-term holders. According to the Hodl Waves metric, the supply held by investors who purchased over the past 6-to-12-month period has soared to 21.4% as of Nov. 17 compared to 8.7% at the start of June.

Could lower levels attract strong buying, resulting in a sharp recovery or will bears sell on rallies? Let’s study the charts of the top 10 cryptocurrencies to find out.