Chainlink / Dollar may fall to 15.40 - 15.68

Our pivot point is at 16.65.

Our preference

The downside prevails as long as 16.65 is resistance.

Alternative scenario

The upside breakout of 16.65, would call for 17.12 and 17.39.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 17.18 and 17.31).

Supports and resistances

17.39 **

17.12 *

16.65 **

16.47

16.24 last

15.68

15.40 **

15.13 *

14.85 **

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