Chainlink is in a bullish cycle with the formation of higher highs and higher lows. The crypto is still bullish and we are looking to buy at the support level at the price of 14.20 and then continue moving up. The resistance level at $20 would be the profit target.

The descending trendline is still pending and the breakout buy is about to be broken once the price action is escalated.

The retracement level of 50% is in confluence with the support level. This means this is a strong support to pump up the price.

EMA 50 is bullish now but at the support level, the EMA 50 will turn bearish. On the bullish impulse, it can break the EMA 50 towards the bullish side.

RSI 14 is at 54. It needs to neutralize at the 50 level in confluence with the support level.

Chainlink buys from 14.20

Jan 21 2024

Stop Loss -4.45%

Holding time 5hr

14.238

Entry price

13.604

Stop loss price