Chainlink / Dollar may rise to 13.07 - 13.29

Our pivot point stands at 12.24.

Our preference

The upside prevails as long as 12.24 is support.

Alternative scenario

The downside breakout of 12.24 would call for 11.87 and 11.65.

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 trading above both its 20 and 50 period moving average (respectively at 12.22 and 12.18). Finally, the Chainlink / Dollar is trading above its upper Bollinger band (standing at 12.52).

Supports and resistances

13.74 **

13.51 *

13.29 **

13.07

12.53 last

12.39

12.24 **

11.87 *

11.65 **

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