Chainlink / Dollar may fall to 11.61 - 11.78

Our pivot point stands at 12.61.

Our preference

The downside prevails as long as 12.61 is resistance.

Alternative scenario

The upside breakout of 12.61, would call for 12.90 and 13.08.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 12.52 and 12.74). Finally, the Chainlink / Dollar is trading below its lower Bollinger band (standing at 12.22).

Supports and resistances

13.08 **

12.90 *

12.61 **

12.49

12.13 last

11.78

11.61 **

11.44 *

11.26 **

Number of asterisks represents the strength of support and resistance levels.