Chainlink (LINK) Rises 4.01%, Outperforms the Crypto Market Wednesday

Wednesday, June 01, 2022 09:58 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 increased 4.01% to $7.56.

InvestorsObserver is giving Chainlink a 31 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 31, placing it in the bottom 31% 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 pairs 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 $7.1 and resistance set at $7.57. This positions Chainlink with potential selling pressures ahead as it may be getting over extended.