Wrapped Bitcoin receives a weak long-term technical score of 23 from Investor Observer‘s research based on historical trading patterns. The proprietary scoring system evaluates the price movement from the last months to a year, analyzes the support and resistance levels of the token and where it is relative to the long-term averages to determine if it is a strong buy-and- investment opportunity. hold. WBTC currently holds a long-term technical analysis score above 23% of the cryptocurrencies in circulation. This ranking metric is particularly useful for buy-and-hold investors looking for steady strong growth while allocating their assets. Long-term and short-term high technical score tokens can help indicate bottom-out assets, giving investors the option to “buy the drop.”
Commercial analysis
The price of Wrapped Bitcoin is $ -13.144.17 million (-40.07%) below its 100-day moving average price of $ 32.806.290000000, as its price is currently $ 19.662.120000000. Additionally, WBTC is $ 1,984.5400,000 (111.16%) higher than its 52-week low of $ 17,677.570000000 while – $ 142,526.13000000 (12.12%) below its 52-week high of $ 162.188,250000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives WBTC a long-term average technical score of 23. Wrapped Bitcoin’s long-term trading movement suggests that the investors are bearish on the token at the moment. Wrapped Bitcoin currently has a total market cap of $ 5,121,759,871.73 to match its average daily volume of $ 997,359,687.69 of the currency over the past seven days. The volume of WBTC is below the seven-day average of the past 24 hours, with 76,550,018.83 trading in that period. The subclass of this token 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 type of asset, such as a stock or commodity. This allows cryptocurrency traders to access non-crypto assets and trade on a change to gain exposure to assets on a different chain.
Summary
Technical analysis of Wrapped Bitcoin over the past year causes crypto to have received a weak long-term technical score of 23 as its price movement during that period gave traders reason to be bearish on the token in the long term. Click here to get the full Wrapped Bitcoin (WBTC) report.
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