Chainlink (LINK) has been relatively less volatile compared to the crypto market. So far Friday, the Smart Contracts has lost 1.09% to $24.73.
InvestorsObserver gives Chainlink a low volatility rank of 22, placing it in the bottom 22% of cryptos on the market.
The Volatility Gauge analyzes this means that the rank represents its recent trends and isn’t overly influenced by a sudden spike – or two – in volatility.
LINK’s low volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the token has relatively narrow price swings and is well protected from price manipulation.
Chainlink price is favorably positioned going forward. With support at $23.76 and resistance near $25.97. 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.