Solana, Chainlink, & This Popular Altcoin Stand Against the Bearish Heat-Will the Markets Follow?
The post Solana, Chainlink, & This Popular Altcoin Stand Against the Bearish Heat-Will the Markets Follow? appeared on BitcoinEthereumNews.com.
No sooner than the bulls lose strength, the bears jump to extract profits, pushing the entire market into a bearish well Regardless of the upward pressure, altcoins like Solana (SOL), Chainlink (LINK) & Polygon (MATIC) have held a strong grip over the rally The crypto space is again consolidating but under bearish influence. The selling pressure is slowly mounting over the tokens but some manage to hold a tight grip over the rally. While memecoins are leading the top gainers, popular altcoins like Solana (SOL), Chainlink (LINK), and Polygon (LINK) withstand the selling pressure as the bulls appear to be poised to stick to the bullish trend. Therefore, with a bullish daily close, these altcoins are expected to kick off a fresh upswing. Solana (SOL) Price Analysis The short-term trade analysis indicates the price is following a bullish channel and has just accomplished a harsh correction The double bottom at the lower support suggests the bears did attempt to restrict the rally, but the growing bullish strength squashed the negative possibilities Besides, the DMI which was feared to go bearish, quickly flipped levels with the recent rebound, indicating the bullish momentum still exists within the rally Most importantly, the SOL price has accomplished the ‘D-Wave’ of the Elliot wave and may soon initiate the 5th wave, which may lead the price beyond $200 Chainlink (LINK) Price Analysis The Chainlink price broke above the consolidation much before reaching the apex and demonstrated acute bullish strength After reaching a pivotal resistance zone between $18.3 and $19, the token faces a notable bearish pressure and is undergoing some correction With this, it has landed in a decisive phase as the stochRSI is testing the upper threshold levels and hence the price is expected to follow the RSI’s direction If bearish, then the LINK…
Filed under: News - @ May 29, 2024 2:14 am