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FX.co ★ Chainlink is still following its bullish bias today, although there is potential for a limited correction.

Chainlink is still following its bullish bias today, although there is potential for a limited correction.

[Chainlink]

With both EMAs forming a Golden Cross, then the overall bias direction of the Chainlink cryptocurrency is still strengthening

Key Levels

1. Resistance. 2 : 13.72443

2. Resistance. 1 : 13.58148

3. Pivot : 13.40688

4. Support. 1 : 13.26393

5. Support. 2 : 13.08933

Tactical Scenario:

Positive Reaction Zone: If the price successfully breaks out and closes above 13.40688, there is potential to test the level at 13.58148.

Momentum Extension Bias: If 13.58148 is also broken, then Chainlink will try to test the level at 13.72443.

Invalidation Level / Bias Revision:

The upside bias weakens if the price of Chainlink declines and breaks down below 13.08933.

Technical Summary:

EMA(50) : 13.33489

EMA(200): 13.08961

RSI(14) : 40.15

Economic News Release Agenda:

Due to the national holiday of Black Friday, there will be no economic data releases during the U.S. session tonight.

Chainlink is still following its bullish bias today, although there is potential for a limited correction.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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