Is Wrapped BNB (WBNB) Trending Lower or Higher Thursday?

Thursday, February 01, 2024 03:46 PM | InvestorsObserver Analysts

InvestorsObserver gives Wrapped BNB an average long-term technical score of 48 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the token's support and resistance levels, in addition to where it is relative to long-term averages. The analysis helps to determine whether it's a strong buy-and-hold investment opportunity currently for traders. WBNB at this time has a superior long-term technical analysis score than 48% of crytpos in circulation. The Long-Term Rank will be most relevant to buy-and-hold type investors who are looking for strong steady growth when allocating their assets. Combining a high long and short-term technical score will also help portfolio managers discover tokens that have bottomed out.

InvestorsObserver is giving Wrapped BNB a 48 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 $300.450000000 for WBNB is $35.4900000 (13.39%) above the tokens 100-day moving average of $264.960000000. WBNB meanwhile is $97.2700000 (142.46%) above its 52-week low of $203.180000000 and -$49.72000000 (82.95%) under its 52-week high price of $350.170000000. 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 48. The price movement and range of WBNB suggest that investors are bearish on the token at this time. Wrapped BNB has a total market value of $680,152,438.30 with an average average daily volume of $1,090,226,817.49 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 $141,430,578.37 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

Technical analysis of Wrapped BNB over the past year results in the crypto receiving a an average long-term technical score of 48 as its price movement in that time has given traders reason to be bearish on the token in the long-term. Click Here to get the full Report on Wrapped BNB (WBNB).

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