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

Thursday, May 05, 2022 07:09 PM | InvestorsObserver Analysts

Wrapped BNB receives a strong long-term technical score of 66 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 66% 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 66 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Wrapped BNB!
See Full Report

Trading Analysis

Wrapped BNB's price is -$22.7500000 (-5.69%) below its 100-day moving average price of $399.740000000 as its price at the moment sits at $376.990000000. Additionally, WBNB is $376.9900000 (531994019765210.00%) higher than its 52-week low price of $0.000000000 while -$353.42000000 (50.24%) under its 52-week high of $730.410000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives WBNB a strong long-term technical score of 66. Long-term trading movement of Wrapped BNB suggest that investors are neutral on the token at the moment. Wrapped BNB has a total market value of $1,977,078,529.57 with an high average daily volume of $3,127,671,450.05 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 $649,343,632.15 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

Trading patterns over the last year for Wrapped BNB leads to the token's a strong long-term technical score of 66 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the token. Click Here to get the full Report on Wrapped BNB (WBNB).

Share this article:

Related Articles