Chainlink Price Rises 5% But Faces Strong Resistance at $16.50 Level

Chainlink (LINK) demonstrated notable market activity with a 5% price increase, though the upward momentum encountered significant resistance at the $16.50 threshold. This key resistance level has temporarily halted the cryptocurrency's breakout attempt, creating a crucial juncture for LINK's near-term price trajectory. Market analysts are closely monitoring whether LINK can sustain its current levels and potentially overcome this resistance barrier in upcoming trading sessions.