LINKUSD: One more drop is possible on this Channel Down.

Chainlink is neutral on its 1D technical outlook (RSI = 47.590, MACD = 0.090, ADX = 17.477), trading around its 1D MA50 but on a technical bearish wave of the December Channel Down. This pattern draws many comparisons with the one in June-July 2024, having so far identical RSI fractals. This suggests that the current rejection can test the 1D MA200 at the bottom of the Channel Down. Our target is a bit higher though (TP = 18.000) due to the presence of the S1 level.


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