Chainlink has the buy level at 7.00 which is slightly below the support level. 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 7.50 level.

The ascending trendline is still curved upwards and market does not seem to tap it anytime soon due to its bullish momentum.

The retracement level of 61.8% 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. The EMA 50 curve is steep bullish.

RSI is at 55 which needs to be neutralized at the 50 level mark. We will confluence the RSI with the technical factors drawn on the charts.

Chainlink buys again

Feb 05 2023

Stop Loss -1.84%

Holding time 1d1hr

6.892

Entry price

6.765

Stop loss price