Chainlink / Dollar may rise to 12.09 - 12.25

Our pivot point is at 11.52.

Our preference

Rebound.

Alternative scenario

The downside breakout of 11.52 would call for 11.26 and 11.11.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (11.71) but under its 50 period moving average (11.79).

Supports and resistances

12.56 **

12.40 *

12.25 **

12.09

11.78 last

11.63

11.52 **

11.26 *

11.11 **

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