Chainlink / Dollar may rise to 19.44 - 19.75

Our pivot point stands at 18.09.

Our preference

The upside prevails as long as 18.09 is support.

Alternative scenario

The downside breakout of 18.09 would call for 17.58 and 17.28.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 17.87 and 17.39).

Supports and resistances

20.37 **

20.06 *

19.75 **

19.44

18.60 last

18.29

18.09 **

17.58 *

17.28 **

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