FX.co ★ Technical Analysis of Intraday Price Movement of Chainlink Cryptocurrency, Friday December 29, 2023.

If we look on the 1 hour chart of Chainlink cryptocurrency, then we can clearly seen that Chainlink moves in a weakness condition where the seller is more dominant than the buyers. This is seen from the price movement which moves below WMA 20, followed by the appearance of Bearish 123 pattern followed by the Bearish Ross Hook (RH) and confirmed by the CCI indicator which is managed to breake below its three main levels (100,0,-100) so that based on those facts, as long as there is no upward correction that breaks above the level 16.85806, then Chainlink will go down up to the level 15.50809 as the main target and if the momentum as well as the volatility quite supporting enough then the level 15/12215 will be the next target.

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