Chainlink LINK Gains Momentum as Plasma Blockchain Integrates Oracle Services

Chainlink's native token LINK established bullish momentum with a 6.7% weekly gain despite Friday's slight pullback, forming a clear higher low pattern. The price movement coincides with significant institutional adoption as Plasma blockchain (XPL) joined Chainlink Scale program, integrating Cross-chain Interoperability Protocol (CCIP), Data Streams and Data Feeds for stablecoin infrastructure. Chainlink Labs Chief Business Officer Johann Eid emphasized that Plasma's integration demonstrates how new layer-1 networks can launch with enterprise-grade stablecoin capabilities from inception. This follows UBS bank's recent Chainlink pilot integrating CCIP with SWIFT for tokenized fund operations. Adding to bullish signals, Chainlink Reserve purchased 46,441 LINK tokens worth approximately $9.5 million, bringing total holdings to over 417,000 tokens. Technical analysis indicates LINK faces resistance at $23 while maintaining strong support at $22.13, with trading volume reaching 1,409,489 units exceeding daily averages. Key technical indicators: - LINK traded between $22.13-$23.09 (4.27% range) - Strong support established at $22.13 with elevated buying volume - Higher low pattern suggests renewed upward momentum toward $23.10 resistance