Chainlink / Dollar may rise to 10.77 - 10.96

Our pivot point stands at 10.13.

Our preference

The upside prevails as long as 10.13 is support.

Alternative scenario

The downside breakout of 10.13 would call for 9.82 and 9.64.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (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 10.16 and 10.12).

Supports and resistances

11.33 **

11.14 *

10.96 **

10.77

10.38 last

10.26

10.13 **

9.82 *

9.64 **

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