Chainlink / Dollar may fall to 10.18 - 10.33

Our pivot point stands at 10.80.

Our preference

The downside prevails as long as 10.80 is resistance.

Alternative scenario

The upside breakout of 10.80, would call for 11.04 and 11.18.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10.76 and 10.86).

Supports and resistances

11.18 **

11.04 *

10.80 **

10.71

10.61 last

10.33

10.18 **

10.04 *

9.90 **

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