What do the Long-Term Technicals Predict for Wrapped BNB (WBNB) Monday?

Monday, October 16, 2023 11:16 AM | InvestorsObserver Analysts

Wrapped BNB receives a strong long-term technical score of 89 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 89% 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 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 $213.720000000 for WBNB is -$11.3700000 (-5.05%) below the tokens 100-day moving average of $225.090000000. WBNB meanwhile is $10.5400000 (99.77%) above its 52-week low of $203.180000000 and -$174.27000000 (52.51%) 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 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 market capitalization of $529,818,415.18 and a relatively average average daily volume with $680,536,957.44 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, WBNB's volume is below its seven day average with 101,165,928.99 exchanged. 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 89 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).

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