The analysis of Chainlink (LINK) begins on a 30-minute chart, observing attempts at an upside reversal from a support zone between $11.85 and $12.11. The current bounce is noted as lacking sufficient momentum to break out of the immediate local range. For a confirmed bullish third wave, a decisive move above the $12.95 level is required. The critical invalidation point for this short-term bullish thesis is established at the December low of approximately $11.73, which was formed on the 18th of December. On a larger, daily timeframe, LINK appears to be in a fourth-wave correction, potentially preceding a final fifth wave down. Key long-term support levels are identified at $10.72 (50% Fibonacci retracement) and $8.94 (61.8% Fibonacci retracement). A breakdown below $10.72 could lead to a retest of the $8.94 level. Despite the potential for a larger ABC structure extending towards targets in the $15.085 to $16.65 range, market activity is anticipated to remain subdued due to year-end low trading volume, suggesting that significant upward breakouts are unlikely in the immediate short term. Further conclusive evidence of an ascending C-wave impulse is awaited.