Solana, VeChain, Ethereum Classic Price Analysis: 06 February

ambcrypto.com:

While the overall market sentiment seemingly improved, Solana, VeChain, and Ethereum Classic continued their up-channel oscillation. Their near-term technicals flashed a bullish preference, but the same seemed to slow down in the near term after testing the overbought region.

Source: TradingView, SOL/USD

Since breaking down from the $167-mark on 5 January, SOL bears accelerated their pressure by initiating multiple sell-offs. SOL noted a 52.2% loss (from 5 January) and touched its five-month low on 24 January.

Over the last two weeks, the altcoin has witnessed an ascending channel on its 4-hour chart. The past two days marked notable gains after SOL bounced back from the lower trendline of the lower band of the Bollinger Bands (BB). It saw an over 24% jump but later seemingly slowed down as it approached the upper band of the BB.

Further retracements from here would again find a testing floor near the midline of the up-channel.

At press time, SOL was trading at $113.165. The RSI rapidly grew after breaching the 43-mark. It tested the overbought region multiple times over the past week. Now, it may be possibly eyeing a retest of the 56-mark support.

Source: TradingView, VET/USDT

VET lost 54.15% of its value (from 5 January) and fell toward its 11-month low on 24 January. Over the past few days, VET formed a down channel (yellow) on its 4-hour chart.

Now, the bulls found it challenging to test the upper trendline of the up-channel (yellow). Any close below the $0.0585-level would propel a retest of the 20 SMA (red).

At press time, VET traded at $0.05951. The RSI moved between two horizontal trendlines for ten days. Following the same, it witnessed a rectangle top breakout. It pictured a bullish bias while heading to test the