Chainlink / Dollar intraday: the RSI is overbought

Our pivot point is at 12.95.

Our preference: the upside prevails as long as 12.95 is support.

Alternative scenario: below 12.95, expect 12.61 and 12.40.

Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 12.93 and 12.31).

Supports and resistances:

14.36 **

14.15 *

13.95 **

13.74

13.30 last

13.09

12.95 **