The native token of the Oracle Chainlink network rebounded 3.6% on Friday, reversing some of Thursday’s losses as traders approached the key support level.
LINK briefly broke above the $17 level with a surge in trading volume – some 3 million tokens changed hands in a morning breakout – indicating renewed accumulation, CoinDesk Research’s market analysis tool suggested. However, weakness during US trading hours took LINK back below $17. Recently, the token traded at $16.96.
On the news front, payments-focused Stellar (XLM) announced the integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP), data feeds and feeds. The move allows developers and institutions building on Stellar to access real-time data and reliable 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 a growing demand for secure and interoperable financial infrastructure.
Key technical levels to watch:
LINK now holds near-term support at $16.37 with upside targets at $17.46 and $18.00. The token’s ability to capitalize on Friday’s rebound may depend on broader market flows and tracking dip buying.
- Support/Resistance: Strong support holds at $16.37 after several successful tests, while resistance at $17.46 shows repeated rejection patterns.
- Volume Analysis: 78% volume increase during a breakout attempt confirms institutional interest, explosive selling volume indicates position rebalancing.
- Chart Patterns: The end-of-session purge pattern creates a classic oversold setup for accumulation strategies.
- Targets and Risk/Reward: Holding above $16.89 targets a retest of $17.46 with an upside to $18.00, downside risk limited to support $16.37.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
