Chainlink Price Tests Key Resistance at $15.32 Amid Weakened Network Activity

The Chainlink (LINK) price has been steadily increasing over the past few days after recovering from its lows near $7. The current price is around $15.29, with a notable increase of 8.25% in the past 24 hours and a 200% surge in trading volume.

This uptrend can be attributed to Chainlink's recent launch of CCIP 2.0, which has added features such as institutional-focused security, compliance, and cross-chain settlement capabilities for participants like AWS, ANZ, Fidelity International, SBI Digital Markets, Sygnum, and Taurus.

However, the breakout is facing a critical test due to weakened network activity, raising questions about whether LINK can continue its upward trajectory. Despite this, daily active users have dropped from over 300 to just 57, creating a divergence between the price recovery and network activity.