Price Analysis View Non-AMP

Solana, Chainlink, & This Popular Altcoin Stand Against the Bearish Heat—Will the Markets Follow?

Published by
Sahana Vibhute

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
  • 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 price is expected to drop to $15, which is unlikely, but if the bulls manage to defend the support at $17.9, a bullish rebound could elevate the levels beyond $21.

Polygon (MATIC) Price Analysis

  • Polygon is among the tokens which have maintained a sluggish trade after facing a rejection from a dollar
  • Despite this, the bulls continue to hold the lead, as the MATIC price is maintaining an ascending trend
  • Besides, the Bollinger bands are going parallel to each other, which suggests an accumulation phase but only a squeeze may trigger a breakout
  • However, regardless of the bearish impact, the rally remained under a bullish influence, as suggested by BB Power. Therefore, after a brief accumulation, a breakout beyond $1 appears imminent but may consume more time than expected.
Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

Tesla Bitcoin Holdings Unmoved as Q1 Revenue Drops 9%: What’s the Strategy?

Tesla's latest earnings report is out—and it's a mixed bag. The electric vehicle giant saw…

April 23, 2025

Will Bitcoin Price Hit $100K This Week or Crash Again?

Bitcoin has re-entered bullish territory, surging above the $93,000 mark, as its price continues to…

April 23, 2025

Good Game Group Launches $GDGM Token to Power Next-Gen Web3 Gaming and Community Engagement

As blockchain technology continues to reshape the digital entertainment industry, one of the latest integrations…

April 23, 2025

Three Projects That Were Long RISC-V Before Vitalik Began Shilling It

Last week, most ethereans had never heard of RISC-V, let alone worked out how to…

April 23, 2025

Why Ethereum Price is Up Today— Key Reasons Behind It

Ethereum, the world’s second-largest cryptocurrency, has made a strong comeback after dipping below $1,400 not…

April 23, 2025

XRP Futures Take Off on Coinbase, Hit $100M in Daily Volume

Coinbase officially launched XRP futures contracts on its U.S. Derivatives Exchange on April 21. The…

April 23, 2025