The Chainlink (LINK) price is testing a crucial resistance zone after recovering sharply from its lows near $7. The price is currently trading around $15.29, up 8.25% in the past 24 hours, with trading volume up 200%. The 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.
The breakout, however, is facing an important test as network activity has weakened. This creates a key question: can the LINK price continue higher?
Active Addresses Drop Despite LINK Price Recovery
Chainlink’s daily active users have fallen sharply, from more than 300 down to just 57. That decline is notable because LINK has moved in the opposite direction, climbing from below $9 to above $15. This divergence suggests the latest price recovery isn’t accompanied by a comparable increase in daily network activity.
The decline does not necessarily invalidate the bullish price structure, particularly because the current catalyst is increasingly focused on institutional infrastructure rather than retail network activity.
LINK Price Analysis: Bulls Test a Crucial Resistance
The LINK price has recovered strongly from its June lows, but the rally is now approaching a major resistance zone around $15.32. The daily chart shows LINK trading near $15.29, with the latest candle reaching $15.47 and pushing into the resistance area that previously capped the price. A decisive daily close above $15.32 could open the way toward the next resistance at $16.56, followed by $18.03.
Momentum remains bullish with the RSI trading at 73.56, placing LINK in overbought territory and showing that buyers currently have strong control. However, the elevated RSI also means the token could see short-term profit-taking if bulls fail to establish support above $15.32. If the breakout is rejected, $13.32 becomes the first key support to watch, while a deeper correction could bring the $10.60 pivot level into focus.
Chainlink Price Prediction for October—Can It Reach $20?
For October, the chart provides a clear sequence of levels rather than requiring an aggressive price forecast: $15.32 is the first breakout trigger, $16.56 the next resistance, $18.03 the next major resistance and $20.75 to $23.46 the higher-end zone if momentum expands. A move toward $20 to $23 would require the Chainlink (LINK) price to maintain the current breakout structure and attract stronger participation, while a failure could send the token back toward $13.32.
Was this writing helpful?
Story Ends Here
Trust with CoinPedia:
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Read the Next News
