Solana, Chainlink and this popular altcoin resist the bearish heat: will the markets follow?

The cryptocurrency sector is consolidating again, but under bearish influence. Selling pressure on the tokens is slowly increasing, but some manage to maintain a tight grip on the rally. While memecoins lead the way in higher gains, popular altcoins such as Solana (SOL), Chainlink (LINK), and Polygon (LINK) are resisting selling pressure as bulls appear poised to stick with the uptrend. Therefore, with a bullish daily close, these altcoins are expected to kick off a new recovery.

Solana (SOL) Price Analysis.

• Short-term trading analysis indicates that the price is following a bullish channel and has just realized a harsh correction

• The double bottom at the lower support suggests that the bears attempted to limit the rally, but the growing bullish strength crushed the negative possibilities.

• Furthermore, the DMI, which was feared to turn bearish, quickly reversed levels with the recent rebound, indicating that bullish momentum still exists within the rally.

• More importantly, SOL price has realized the “D-Wave” of the Elliot wave and may soon start the fifth wave, which could take the price above $200.

Chainlink (LINK) Price Analysis.

• THE Chain price it broke through the consolidation long before reaching the peak and demonstrated sharp bullish strength

• After reaching a key resistance zone between $18.3 and $19, the token is facing significant bearish pressure and is undergoing some corrections

• With this, it has come at a decisive stage as the stochRSI is testing the upper threshold levels and hence the price is expected to follow the direction of the RSI.

• In case of a downturn, LINK price should fall to $15, which is unlikely, but if the bulls manage to defend the support at $17.9, a bullish rebound could lift the levels above $21.

Polygonal Price Analysis (MATIC).

• Polygon is among the tokens that have maintained sluggish trading after facing dollar rejection

• Despite this, the bulls continue to maintain the lead MATIC price maintains an ascending trend

• Furthermore, the Bollinger bands move parallel to each other, which suggests an accumulation phase, but only a squeeze can trigger a breakout.

• However, regardless of the bearish impact, the rally remained under a bullish influence, as suggested by BB Power. Therefore, after a short accumulation, a breakout above $1 seems imminent but may take longer than expected.

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