Solana, MATIC, Tron Price Analysis: 07 February

ambcrypto.com:

While the overall market sentiment improved, Solana, MATIC and Tron continued their up-channel oscillation. As a result, they reclaimed lost support levels. Their near-term technicals displayed a bullish bias but the overbought readings on their 4-hour chart could cause a potential slowdown.

Solana (SOL)

Source: TradingView, SOL/USD

SOL noted a 52.2% loss (from 5 January) and touched its five-month low on 24 January. Since then, it saw an over 47.2% jump while forming an up-channel on its 4-hour chart.

The rally then reversed from the upper band of the Bollinger bands (BB). During this phase, it reclaimed the vital $102-mark support. Further retracements from here would again find a testing floor near the midline of the up-channel.

At press time, SOL was trading at $117.25. The RSI tested the overbought region multiple times over the past week. Thus, revealing a one-sided bullish influence. Nevertheless, any close below the 63-mark could propel a retest of the 56-point RSI support. Also, the Volume oscillator was on a downtrend, hinting at inadequate thrust to sustain a further breakout.  

Polygon (MATIC)

Source: TradingView, MATIC/USDT

After attaining its ATH on 27 December at $2.92, MATIC fell to register a 54.24% decline and hit its three-month low on 24 January.

MATIC saw a 39.6% ROI in the last two weeks after bouncing back from its long-term $1.3-support. Thus, it reclaimed the 78.6%, 61.8% support level but struggled to cross the $1.8-level. Any fall below the golden Fibonacci level could lead to a retest of the lower trendline of the up-channel (white). 

At press time, MATIC traded at $1.787. The RSI steeply surged and reversed from the overbought region. Further, the CMF exponentially grew to poke its ten-week high on 7