As shown in the chart, we can expect a positive reaction to this level for the short term and on the 4-hour timeframe, considering support in the range from $6,007 where the MM200 is to $6,629 where the median of the Keltner channel is located. MM200 is considered a strong rebound support.
RSI flat on the ground, indicating a depletion of buying forces, confirm the bullish bias in the 4H time frame. The most immediate resistance is at the top of the Keltner Channel at $7.03 and after that comes the major resistance at $7,112. Piercing this slab then it only stops at $7,814.
A week with an American holiday and important government decisions. Activate your stops and watch out for leverage!
Here are the supports and resistances:
S: 6,629 / 6,007
R: 7.03 / 7.112 / 7.814
Although Chainlink's daily active addresses have been at fairly low levels for most of 2022, these levels have recently been high due to high network activity and it is bullish for the price in the longer term as increasing chain utility creates a more sustainable ground for the future.
RSI flat on the ground, indicating a depletion of buying forces, confirm the bullish bias in the 4H time frame. The most immediate resistance is at the top of the Keltner Channel at $7.03 and after that comes the major resistance at $7,112. Piercing this slab then it only stops at $7,814.
A week with an American holiday and important government decisions. Activate your stops and watch out for leverage!
Here are the supports and resistances:
S: 6,629 / 6,007
R: 7.03 / 7.112 / 7.814
Although Chainlink's daily active addresses have been at fairly low levels for most of 2022, these levels have recently been high due to high network activity and it is bullish for the price in the longer term as increasing chain utility creates a more sustainable ground for the future.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.