The analysis focuses on Chainlink (LINKUSD) using Elliott Wave theory on a 1-hour timeframe. The analyst expects a continuation of the bearish trend, targeting a support zone between $13.30 and $19.50. Specific Fibonacci levels mentioned within this zone include $13.35, $15.63, $17.46, and $19.46. The analysis suggests viewing the upward movement as Wave 1, followed by a Wave 2 correction. The price action is viewed as an ABC corrective structure. A break above $22.47 is required to signal any short-term bullish recovery. The analysis suggests a new low is expected. The price is currently at the 21.44 price level.