Chainlink, MATIC and TRX Price Analysis: 03 February

ambcrypto.com:

As the market tried to recover amidst Russia’s escalating tensions, the likes of Chainlink and MATIC projected growth patterns. However, TRX seemed more inclined towards the bears.

Chainlink (LINK)

Source: TradingView, LINK/USD

Even though bulls made a desperate attempt to recover from the December crash, LINK dropped to a year low support level of $11.68 on 24 February. Furthermore, continued sell-off amidst the Ukrainian crisis pushed the coin down the charts. However, over the past week, the bulls took over and moved the alt higher. Thus, marking higher peaks and troughs (yellow dashed line).

However, over the past week, LINK gained a solid 28.93%, recovery. Thereby, hitting resistance at the $15.00 level. At press time, the alt traded at $15.04. Notably, there has been a decline in volume over the past two days. Consequently, at the time of writing, LINK did seem to be breaching the trendline support. The RSI dropped sharply from the overbought area to a bearish 39.45. Even the AO confirmed a bearish momentum as it dipped slightly under the zero line.

Polygon (MATIC)

Source: TradingView, MATIC/USD

MATIC gained around 27% over the last week after retesting the support level at $1.32. Much like many other coins in the market, MATIC took a plunge as the global tensions escalated due to the Ukrainian conflict. But it quickly recovered. Over the last week, MATIC formed a wedge (white line) as it marked higher lows and reached resistance at the $1.65 level.

Much like Chainlink, MATIC depreciated following a bearish momentum over the last couple of days. During press time, MATIC traded at $1.61, shedding 1.28% over the previous day. TheRSI went from an overbought region to 47.63 over the last couple of days. Furtherance of this