Chainlink (LINK) Falls 0.01%, Underperforms the Crypto Market Sunday

Sunday, May 21, 2023 06:36 PM | InvestorsObserver Analysts

Chainlink (LINK) has been relatively less volatile when compared to other cryptocurrencies. So far Sunday, the Smart Contracts has lost 1.31% to $6.42.

InvestorsObserver is giving Chainlink a 24 Volatility Rank. Find out what this means to you and get the rest of the rankings on Chainlink!

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Low Volatility

InvestorsObserver gives Chainlink a low volatility rank of 24, placing it in the bottom 24% 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 low volatility reading is coupled 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 trading near resistance. With support near $6.37 and resistance around $6.42. This positions Chainlink with potential selling pressures ahead as it may be getting over extended.