Chainlink Price Tests Crucial Resistance Ahead of Potential $20 Breakout

The Chainlink (LINK) price is currently trading at around $15.29 after recovering sharply from its lows near $7, a gain of 8.25% in the past 24 hours with a significant increase in trading volume.

This move comes as Chainlink launched CCIP 2.0, adding institutional-focused security, compliance and cross-chain settlement features, with participants including AWS, ANZ, Fidelity International, SBI Digital Markets, Sygnum and Taurus.

However, the breakout is facing an important test as network activity has weakened, creating a key question: can the LINK price continue higher?