Will Solana and Chainlink Survive the Intensifying Bear Market Activity?

The intensifying bearish action during the weekend has been a major concern over the crypto markets nowadays. The bears are extracting the weekly profits quickly

The intensifying bearish activity during the weekend has kept the crypto markets on edge. While the bears are quickly extracting the weekly profits, leaving traders unsure of the next move, two altcoins, Solana & Chainlink, are putting up a fight against the bearish heat. This could either lead to a fresh bearish spell or a strong rebound.

Solana price, after failing to hold the key resistance at $144, slipped into a bearish zone. Moreover, the bears are attempting to drag the SOL price lower, aiming for the support zone between $134 and $130. Notably, the bearish divergence in the RSI & MACD readings also adds strength to the possibility of a further bearish spell.

On the other hand, the Chainlink price, despite the bearish outlook, seems to be holding up well. After bouncing off the crucial support at $12, the LINK price is attempting to showcase strength. Moreover, the bulls are aiming to push the price higher, targeting the resistance levels at $13.06 and $13.69. Interestingly, if the bulls manage to break through these resistances, a 10% upswing is possible.

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