Chainlink (LINK) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Thursday, the Smart Contracts has gained 1.3% to $6.51.
InvestorsObserver gives Chainlink a moderate volatility rank of 40, placing it in the bottom 40% of cryptos on the market.
The Volatility Gauge analyzes 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 at $5.76 and resistance around $7.21. 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.
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