Chainlink (LINK) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Thursday, the Smart Contracts has declined 3.45% to $6.5.
InvestorsObserver gives Chainlink a moderate volatility rank of 37, placing it in the bottom 37% of cryptos on the market.
The Volatility Gauge takes into account meaning that one day won’t make or break its rank.
LINK’s moderate volatility reading is coupled 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 favorably positioned going forward. With support set at $6.36 and resistance near $6.57. This positions Chainlink with room to run before facing selling pressures.
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.