Chainlink Technical Analysis 17 November, 2021

• Chainlink reversed from support level 28.60
• Likely to rise to resistance level 36.00

Chainlink cryptocurrency recently reversed up from the pivotal support level 28.60 (which has been reversing the price from the middle of October), intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward price impulse from September. The upward reversal from the support level 28.60 stopped the earlier short-term impulse wave (i) of the impulse wave C from the start of November.

Given the clear daily uptrend and the improving risk sentiment seen across the cryptocurrency markets today , Chainlink can be expected to rise further toward the next resistance level 36.00

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