Chainlink / Dollar may fall to 16.71 - 17.01

Our pivot point stands at 18.04.

Our preference

Under pressure below 18.04.

Alternative scenario

Above 18.04, look for 18.55 and 18.84.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 17.72 and 17.66).

Supports and resistances

18.84 **

18.55 *

18.04 **

17.84

17.64 last

17.01

16.71 **

16.41 *

16.11 **

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