Chainlink (LINK) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the Smart Contracts has advanced 2.34% to $6.35.
InvestorsObserver gives Chainlink a moderate volatility rank of 41, placing it in the bottom 41% of cryptos on the market.
The Volatility Gauge follows which means that one day won’t define its volatility rank – a trend will.
LINK’s moderate volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the token has moderate price swings and is well protected from price manipulation.
Chainlink price is trading near resistance. With support set at $6.05 and resistance set at $6.41. This positions Chainlink with potential selling pressures ahead as it may be getting over extended.
What is a Token?
Tokens are digital assets that exist on another cryptocurrency’s blockchain.
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.