👀 According to AMBCrypto: Why $LINK and $MATIC Are More Similar Than You Think

AMBCrypto’s analysis of LINK on a daily timeframe chart indicated that it was oversold at press time.

This conclusion is drawn from the Relative Strength Index (RSI) being below 30, suggesting a strong bear trend and oversold conditions.

This state may signal a potential price correction in line with its 30-day MVRV indication. At the time of writing, Chainlink was trading at around $13, with a slight price increase.

The chart also revealed three consecutive days of decline before this, resulting in a loss of over 6%. 

MATIC was experiencing a similar trend. At the time of this writing, its RSI was below 30, indicating oversold conditions and a strong bear trend. It was trading around $0.6, with a slight decline observed.

This decline marked the fourth consecutive day of decline for MATIC. The long Moving Average (blue line) currently acts as resistance, reflecting the current poor price state.