Chainlink / Dollar may rise to 11.79 - 11.94

11.23 is our pivot point.

Our preference

The upside prevails as long as 11.23 is support.

Alternative scenario

The downside breakout of 11.23 would call for 10.98 and 10.83.

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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 11.22 and 11.10).

Supports and resistances

12.24 **

12.09 *

11.94 **

11.79

11.44 last

11.33

11.23 **

10.98 *

10.83 **

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