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

Wednesday, October 11, 2023 09:34 AM | InvestorsObserver Analysts

Wrapped BNB receives an average long-term technical score of 64 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. WBNB currently holds a superior long-term technical analysis score than 64% 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'.

InvestorsObserver is giving Wrapped BNB a 64 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Wrapped BNB!

Trading Analysis

The current trading price of $206.950000000 for WBNB is -$19.8800000 (-8.77%) below the tokens 100-day moving average of $226.830000000. WBNB meanwhile is $3.7600000 (96.44%) above its 52-week low of $203.180000000 and -$181.05000000 (50.76%) under its 52-week high price of $387.990000000. Wrapped BNB's current price relative to the tokens long-term average and 52-week high and low, gives the crypto an average long-term technical score of 64. 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 $513,589,288.59 with an average average daily volume of $532,130,790.12 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 $83,876,275.58 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 an average long-term technical score of 64 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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