InvestorsObserver gives Wrapped Bitcoin a strong long-term technical score of 73 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 73% 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
WBTC is currently -$1,596.5000000 (-5.67%) below its 100-day moving average price of $28,135.700000000 with its current price of $26,539.200000000. Meanwhile, Wrapped Bitcoin is $11,020.3200000 (170.94%) above its 52-week low price of $15,518.880000000 and -$5,138.82000000 (83.75%) below its 52-week high of $31,678.020000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 73. Trends for the long-term trading history of Wrapped Bitcoin suggest that traders are currently neutral on the token.
Wrapped Bitcoin has a market capitalization of $4,325,219,413.25 and a relatively high average daily volume with $628,705,312.15 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, WBTC’s volume is below its seven day average with 86,196,344.30 exchanged.
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
Trading patterns over the last year for Wrapped Bitcoin leads to the token’s a strong long-term technical score of 73 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the token.
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