Is Wrapped BNB (WBNB) Heading the Right Direction Friday?

Friday, March 15, 2024 08:18 AM | InvestorsObserver Analysts

Wrapped BNB receives a strong long-term technical score of 89 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the token's consistency, volatility, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. Currently, WBNB holds a superior long-term technical analysis score than 89% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover tokens that have bottomed out.

InvestorsObserver is giving Wrapped BNB a 89 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Wrapped BNB!
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Trading Analysis

The current trading price of $581.050000000 for WBNB is $249.8200000 (75.42%) above the tokens 100-day moving average of $331.230000000. WBNB meanwhile is $377.8700000 (280.56%) above its 52-week low of $203.180000000 and -$46.19000000 (91.04%) under its 52-week high price of $627.240000000. Wrapped BNB'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 89. The price movement and range of WBNB suggest that investors are neutral on the token at this time. Wrapped BNB has a total market value of $1,004,517,408.31 with an high average daily volume of $4,553,032,766.38 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, WBNB's volume is below its average with $788,802,689.83 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

WBNB's historical trading over the past year gives it a a strong long-term technical score of 89 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 BNB (WBNB).

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