Chainlink is also sitting at the support level which has been tested thrice and the market has the potential to move up towards the resistance level once the price action confirms its bullish moves. The price where we are looking to go long is 5.85. This level seems solid to continue moving up. 

The descending trendline has broken out from the buys and the market has already validated the breakout. Once the price action has been confirmed, the market has already retraced back towards the support level from where it can start to move up.

There is no retracement level on this pair as the support level is where the market retraced completely.

EMA 50 is still bearish and on the mark up, we anctipate the market to push through the EMA 50.

RSI is at 43. It needs to fall towards the over sold region at 25. This region will align with the technical factors of the chart in order to fulfill our technical strategy.

Lets buy Chainlink from support?

Sep 03 2023

Take Profit +7.95%

Holding time 14d6hr

5.990

Entry price

6.466

Take profit price