Chainlink’s native token, LINK, rebounded 3.6% on Friday, recovering from Thursday’s losses as traders bought around a key support zone. The cryptocurrency briefly surged past the $17 mark, accompanied by a significant increase in trading activity — over 3 million LINK tokens were exchanged during the morning breakout, signaling renewed accumulation according to CoinDesk Research insights. However, U.S. market hours saw some weakness, pulling LINK back below $17, where it last traded around $16.96.
The bullish momentum coincided with a major announcement from Stellar (XLM), which revealed its plans to integrate Chainlink’s Cross-Chain Interoperability Protocol (CCIP) along with Data Feeds and Data Streams. This integration will allow developers and institutions building on Stellar to access real-time, trusted cross-chain data infrastructure, enhancing support for tokenized assets and decentralized finance (DeFi) solutions. With over $5.4 billion in quarterly real-world asset (RWA) transaction volume, Stellar’s move signals a growing demand for secure, interoperable financial ecosystems leveraging Chainlink’s technology.
From a technical standpoint, LINK maintains solid support at $16.37, with upside targets at $17.46 and $18.00. The recent 78% surge in volume during the breakout confirms institutional participation, though strong selling volume later in the session reflected short-term rebalancing. Chart patterns indicate a potential oversold setup, which could attract further accumulation if market sentiment stabilizes.
For traders, holding above $16.89 could set up a retest of the $17.46 resistance level, with potential upside toward $18.00. The downside risk remains limited near the $16.37 support area. Whether LINK extends its rebound will largely depend on broader crypto market flows and sustained dip-buying momentum.
