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Wrapped Bitcoin (WBTC) Falls 0.04%, Outperforms the Crypto Market Wednesday

Wednesday, April 06, 2022 10:59 AM | InvestorsObserver Analysts
Wrapped Bitcoin (WBTC) Falls 0.04%, Outperforms the Crypto Market Wednesday

Wrapped Bitcoin (WBTC) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Wednesday, the Wrapped Tokens has dropped 3.7% to $44261.24.

volatility - 9
InvestorsObserver is giving Wrapped Bitcoin a 9 Volatility Rank. Find out what this means to you and get the rest of the rankings on Wrapped Bitcoin!

Low Volatility

InvestorsObserver gives Wrapped Bitcoin a low volatility rank of 9, placing it in the bottom 9% of cryptos on the market.

The Volatility Gauge follows this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. WBTC's low volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the token has relatively narrow price swings and is well protected from price manipulation.

Wrapped Bitcoin price is trading near resistance. With support around $43186.68 and resistance at $44538.67. This positions Wrapped Bitcoin with potential selling pressures ahead as it may be getting over extended.

What is a Token?

Tokens are digital assets that exist on another cryptocurrency's blockchain.

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