Chainlink / Dollar may rise to 12.29 - 12.50

Our pivot point stands at 11.60.

Our preference

Rebound towards 12.50.

Alternative scenario

The downside breakout of 11.60 would call for 11.25 and 11.04.

Comment

The RSI is below its neutrality area at 50. 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 11.93 and 12.15).

Supports and resistances

12.92 **

12.71 *

12.50 **

12.29

11.88 last

11.74

11.60 **

11.25 *

11.04 **

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