Chainlink / Dollar may rise to 12.16 - 12.32

Our pivot point stands at 11.62.

Our preference

As long as 11.62 is support look for 12.32.

Alternative scenario

The downside breakout of 11.62 would call for 11.36 and 11.20.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The price could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 11.78 and 11.54).

Supports and resistances

12.63 **

12.47 *

12.32 **

12.16

11.83 last

11.73

11.62 **

11.36 *

11.20 **

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