Chainlink / Dollar may rise to 11.47 - 11.66

Our pivot point stands at 10.68.

Our preference

The upside prevails as long as 10.68 is support.

Alternative scenario

Below 10.68, expect 10.35 and 10.16.

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 positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.51 and 10.40). Finally, the Chainlink / Dollar is trading above its upper Bollinger band (standing at 11.01).

Supports and resistances

12.05 **

11.86 *

11.66 **

11.47

11.08 last

10.80

10.68 **

10.35 *

10.16 **

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