Chainlink (LINK) Rises 2.34%, Underperforms the Crypto Market Wednesday

Wednesday, July 27, 2022 10:40 AM | InvestorsObserver Analysts

Chainlink (LINK) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the Smart Contracts has advanced 2.34% to $6.35.

InvestorsObserver is giving Chainlink a 41 Volatility Rank. Find out what this means to you and get the rest of the rankings on Chainlink!

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Moderately Volatile

InvestorsObserver gives Chainlink a moderate volatility rank of 41, placing it in the bottom 41% of cryptos on the market.

The Volatility Gauge follows which means that one day won't define its volatility rank - a trend will. LINK's moderate volatility reading is paired 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 trading near resistance. With support set at $6.05 and resistance set at $6.41. This positions Chainlink with potential selling pressures ahead as it may be getting over extended.