Hello all. Looking at chainlink on the daily chart we see that we found support around $18 right at the long ascending support line (yellow line).
If we draw a resistance on the daily timeframe we get a resistance sitting at around $31-$32.
The fibonacci retracement from swing high to swing low gives us a golden pocket target which sits at around $29. This also corresponds with the downtrending resistance line which makes me speculate that chainlink will hit this target for a retest.
This price target puts chainlink at 55% gain for the short term.
Bullish signs to look for: Oversold stochastic Rsi, price to break current resistance around $20, golden cross.
Thanks for reading ,and stay tuned. Enjoy.
If we draw a resistance on the daily timeframe we get a resistance sitting at around $31-$32.
The fibonacci retracement from swing high to swing low gives us a golden pocket target which sits at around $29. This also corresponds with the downtrending resistance line which makes me speculate that chainlink will hit this target for a retest.
This price target puts chainlink at 55% gain for the short term.
Bullish signs to look for: Oversold stochastic Rsi, price to break current resistance around $20, golden cross.
Thanks for reading ,and stay tuned. Enjoy.