Chainlink has been in a bullish trend with the formation of higher highs and higher lows. The market will retest the support level at the point blink of the price of 16. The market if retests this, we are looking at another high at the resistance level priced at 17.70.  It should be noted that the crypto is in an overall bullish trend. If we see a bullish price action, we can continue moving up.

The ascending trendline might confluence at the support level with the price action. 

The retracement level of 61.8% is in confluence with the support level as well.

EMA 50 is bullish and at the support level there can be a confluence of the buying level.

RSI is at 67. It needs to neutralize at the 50 level in aligned with the technical factors.

Chainlink buys from 16

Feb 04 2024

Stop Loss -7.72%

Holding time 1hr

16.065

Entry price

14.825

Stop loss price