Chainlink has moved exactly as we expected since our last analysis. However, the green resistance box could still not be left sustainably.
We are currently trading at around USD 7.70 in a consolidation phase. The trading volume has decreased significantly in the last few days, which could indicate a first move in the near future .
The RSI is in a slightly overbought territory. A small correction can therefore be assumed for the smaller time units. This could lead us to around USD 7.20, as this is where the monthly support P lies.
Should we get the above correction, it will be crucial to break the last resistance at c. USD 8.23. Recently we didn't even make it close.
However, if we manage to break through this resistance impulsively and above all with significantly more trading volume, the chances of a short-term rally are good.
This could take us to around $9.50 – $9.70. There is our last high on the one hand and the monthly resistance R1 on the other. So we could expect the first correction here.
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