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Should You Sell Wrapped Bitcoin (WBTC) Saturday?

Saturday, January 08, 2022 02:16 PM | InvestorsObserver Analysts
Should You Sell Wrapped Bitcoin (WBTC) Saturday?

Wrapped Bitcoin receives an average long-term technical score of 59 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 59% 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.

Long-Term Technical - 59
InvestorsObserver is giving Wrapped Bitcoin a 59 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 -$13,855.3900000 (-25.31%) below its 100-day moving average price of $54,745.130000000 as its price at the moment sits at $40,889.740000000. Additionally, WBTC is $11,837.9500000 (140.71%) higher than its 52-week low price of $29,051.790000000 while -$121,298.51000000 (25.21%) 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 59. 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 $10,902,466,662.25 with an high average daily volume of $1,864,192,678.79 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 $256,633,267.37 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

WBTC's historical trading over the past year gives it a an average long-term technical score of 59 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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