Chainlink / Dollar may rise to 9.09 - 9.22

Our pivot point is at 8.37.

Our preference

Rebound towards 9.22.

Alternative scenario

Below 8.37, expect 8.16 and 8.03.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 9.16 and 10.35).

Supports and resistances

9.48 **

9.35 *

9.22 **

9.09

8.56 last

8.46

8.37 **

8.16 *

8.03 **

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