Wrapped Bitcoin (WBTC): How Does it Rank Sunday on Long-Term Trading Metrics?

Sunday, March 17, 2024 09:06 AM | InvestorsObserver Analysts

Wrapped Bitcoin receives a strong long-term technical score of 83 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, WBTC holds a superior long-term technical analysis score than 83% 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 Bitcoin a 83 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Wrapped Bitcoin!
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Trading Analysis

Wrapped Bitcoin's price is $17,612.1400000 (36.11%) above its 100-day moving average price of $48,769.860000000 as its price at the moment sits at $66,381.990000000. Additionally, WBTC is $42,786.3000000 (281.28%) higher than its 52-week low price of $23,595.690000000 while -$7,123.74000000 (90.29%) under its 52-week high of $73,505.730000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives WBTC a strong long-term technical score of 83. Long-term trading movement of Wrapped Bitcoin suggest that investors are neutral on the token at the moment. Wrapped Bitcoin has a total market value of $10,328,023,176.93 with an high average daily volume of $3,332,673,169.74 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, WBTC's volume is below its average with $442,224,830.85 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 Bitcoin over the past year results in the crypto receiving a a strong long-term technical score of 83 as its price movement in that time has given traders reason to be neutral on the token in the long-term. Click Here to get the full Report on Wrapped Bitcoin (WBTC).

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