InvestorsObserver gives Wrapped Bitcoin a strong long-term technical score of 77 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the token’s support and resistance levels, in addition to where it is relative to long-term averages. The analysis helps to determine whether it’s a strong buy-and-hold investment opportunity currently for traders.
WBTC at this time has a superior long-term technical analysis score than 77% of crytpos in circulation. The Long-Term Rank will be most relevant to buy-and-hold type investors who are looking for strong steady growth when allocating their assets. Combining a high long and short-term technical score will also help portfolio managers discover tokens that have bottomed out.
Trading Analysis
The current trading price of $17,405.950000000 for WBTC is -$1,280.9000000 (-6.85%) below the tokens 100-day moving average of $18,686.840000000. WBTC meanwhile is $1,887.0700000 (112.09%) above its 52-week low of $15,518.880000000 and -$34,100.76000000 (33.77%) under its 52-week high price of $51,506.700000000. Wrapped Bitcoin’s current price relative to the tokens long-term average and 52-week high and low, gives the crypto a strong long-term technical score of 77. The price movement and range of WBTC suggest that investors are neutral on the token at this time.
Wrapped Bitcoin has a total market value of $3,232,464,398.20 with an high average daily volume of $750,888,542.34 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, WBTC’s volume is below its average with $149,171,660.14 exchanged in total.
This token’s subclass Wrapped Tokens: A wrapped token is an on-chain representation of another asset. It can be a cryptocurrency represented on a different blockchain, or it can be another kind of asset, such as a stock or commodity. This allows crypto traders access to non-crypto assets and trades on one change to get exposure to assets on a different chain.
Summary
WBTC’s historical trading over the past year gives it a a strong long-term technical score of 77 as its price movement in that time has given investors reason to be neutral on the token in the long-term.
Click Here to get the full Report on Wrapped Bitcoin (WBTC).
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