Chainlink has the buy level at 6.20 which is the resistance turn support. This support level needs to map the upwards markup and another impulse move up. The market has moved up significantly and can tap the resistance at the 6.80 level.

The resistance trendline has broken out for buys and might retest at the trendline retest.

The retracement level is in confluence with the support level.

EMA 50 has broken out for buys and has the potential to retest as well. This retest has to be vivid towards the support level.

RSI is at 63 which needs to be neutralized at the 50 level mark. We will confluence the RSI with the technical factors drawn on the charts.

Chainlink needs a retest

Jan 22 2023

Stop Loss -3.67%

Holding time 2hr

6.349

Entry price

6.116

Stop loss price