Chainlink / Dollar may rise to 12.72 - 12.89

Our pivot point stands at 12.01.

Our preference

Rebound towards 12.89.

Alternative scenario

The downside breakout of 12.01 would call for 11.72 and 11.54.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 12.37 and 12.61).

Supports and resistances

13.25 **

13.07 *

12.89 **

12.72

12.34 last

12.13

12.01 **

11.72 *

11.54 **

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