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Should You Buy Wrapped Bitcoin (WBTC) Thursday?

Thursday, June 30, 2022 01:30 PM | InvestorsObserver Analysts
Should You Buy Wrapped Bitcoin (WBTC) Thursday?

Wrapped Bitcoin receives an average long-term technical score of 51 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. WBTC currently holds a superior long-term technical analysis score than 51% 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'.

Long-Term Technical - 51
InvestorsObserver is giving Wrapped Bitcoin a 51 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Wrapped Bitcoin!

Trading Analysis

Wrapped Bitcoin's price is -$14,863.7500000 (-43.77%) below its 100-day moving average price of $33,962.030000000 as its price at the moment sits at $19,098.280000000. Additionally, WBTC is $1,420.7000000 (107.97%) higher than its 52-week low price of $17,677.570000000 while -$143,089.97000000 (11.77%) under its 52-week high of $162,188.250000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives WBTC an average long-term technical score of 51. Long-term trading movement of Wrapped Bitcoin suggest that investors are neutral on the token at the moment. Wrapped Bitcoin has a market capitalization of $5,015,755,684.07 and a relatively high average daily volume with $1,742,776,225.73 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, WBTC's volume is below its seven day average with 216,558,863.12 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.


WBTC's historical trading over the past year gives it a an average long-term technical score of 51 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 Bitcoin (WBTC).

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