Chainlink Price Stalls Near $16; Will Bulls Hold the Line?

Chainlink (LINK) is trading around $15.20, up 1.3% in the past 24 hours after a brief attempt to break through the $16 resistance level. A surge in trading volume indicates renewed interest in the token, with 24-hour trading volume reaching $1.03 billion. 70% of its circulating supply (at 696.84 million LINK) remains locked, and the market cap now sits at $10.58 billion, placing it #12 among global cryptocurrencies. Despite recent gains, Chainlink’s price action has been marked by a pullback from the resistance at $16. This raises questions about whether bulls can maintain their momentum long-term.