Chainlink / Dollar may rise to 23.25 - 25.47

Our pivot point stands at 15.82.

Our preference

The upside prevails as long as 15.82 is support.

Alternative scenario

Below 15.82, expect 12.10 and 9.89.

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 trading above both its 20 and 50 period moving average (respectively at 15.78 and 15.01).

Supports and resistances

29.91 **

27.69 *

25.47 **

23.25

18.75 last

17.28

15.82 **

12.10 *

9.89 **

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