Chainlink / Dollar may rise to 16.50 - 16.75

Our pivot point stands at 15.64.

Our preference

As long as 15.64 is support look for 16.75.

Alternative scenario

The downside breakout of 15.64 would call for 15.23 and 14.98.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is below its 20 period moving average (16.03) but above its 50 period moving average (15.58).

Supports and resistances

17.24 **

16.99 *

16.75 **

16.50

15.97 last

15.81

15.64 **

15.23 *

14.98 **

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