The native token of the oracle network Chainlink jumped 3.6% on Friday, reversing some of Thursday’s losses as traders entered around the key support level.
LINK briefly cleared the $17 level with a surge in trading volume — about 3 million tokens changed hands during a morning breakout — indicating renewed accumulation, CoinDesk Research’s market insight tool suggested. However, weakness in the US trading hours pushed LINK back below $17. Recently, the token traded at $16.96.
On the news front, payments-focused Stellar (XLM) announced to integrate Chainlink’s Cross-Chain Interoperability Protocol (CCIP), Data Feeds and Data Streams. The move enables developers and institutions building on Stellar to access real-time data and trusted cross-chain infrastructure for tokenized assets.
With over $5.4 billion in quarterly RWA volume and a rapidly growing DeFi footprint, Stellar’s adoption of Chainlink tools signals an expansion in demand for secure, interoperable financial infrastructure.
Key technical levels to watch:
LINK now has near-term support at $16.37 with upside targets at $17.46 and $18.00. Whether the token can build on Friday’s rally may depend on broader market flows and follow-through from dip buying.
- Support/Resistance: Solid support holds at $16.37 after several successful tests, while $17.46 resistance shows repeated rejection patterns.
- Volume Analysis: 78% volume increase during breakout attempt confirms institutional interest, explosive selling volume indicates position rebalancing.
- Chart Patterns: Late session flush-out pattern creates classic oversold setup for accumulation strategies.
- Target and Risk/Reward: Hold above $16.89 target $17.46 retest with upside to $18.00, downside risk limited to $16.37 support.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
