Chainlink (LINK) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Friday, the Smart Contracts has lost 2.23% to $5.45.
InvestorsObserver gives Chainlink a moderate volatility rank of 34, placing it in the bottom 34% of cryptos on the market.
The Volatility Gauge takes into account which means that one day won’t define its volatility rank – a trend will.
LINK’s moderate volatility reading pairs 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 well positioned going forward. With support near $5.34 and resistance set at $5.52. This leaves Chainlink with room to run before facing selling pressures.
What is a Token?
Tokens are digital assets that exist on another cryptocurrency’s blockchain.
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