Wrapped Bitcoin receives a strong long-term technical score of 76 from InvestorsObserver‘s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the token’s support and resistance levels, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.
WBTC currently holds a superior long-term technical analysis score than 76% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. tokens with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to ‘buy the dip’.
Trading Analysis
Wrapped Bitcoin’s price is -$65.6600000 (-0.23%) below its 100-day moving average price of $27,988.780000000 as its price at the moment sits at $27,923.130000000. Additionally, WBTC is $12,404.2500000 (179.86%) higher than its 52-week low price of $15,518.880000000 while -$3,754.89000000 (88.12%) under its 52-week high of $31,678.020000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives WBTC a strong long-term technical score of 76. Long-term trading movement of Wrapped Bitcoin suggest that investors are neutral on the token at the moment.
Wrapped Bitcoin has a total market value of $4,554,442,982.58 with an high average daily volume of $559,095,786.37 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 $63,655,962.36 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 76 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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