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

Friday, December 03, 2021 07:54 AM | InvestorsObserver Analysts
Wrapped Bitcoin (WBTC): How Does it Rank Friday on Long-Term Trading Metrics?

Wrapped Bitcoin receives an average long-term technical score of 37 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 37% 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 - 37
InvestorsObserver is giving Wrapped Bitcoin a 37 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 $1,930.87 (3.56%) above its 100-day moving average price of $54,282.51 as its price at the moment sits at $56,213.38. Additionally, WBTC is $38,588.91 (318.89%) higher than its 52-week low price of $17,624.47 while -$105,974.87 (34.65%) under its 52-week high of $162,188.25. 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 37. Long-term trading movement of Wrapped Bitcoin suggest that investors are bearish on the token at the moment. Wrapped Bitcoin currently has a total market cap of 14,276,843,564.52 to go along with its average daily volume of 1,467,805,098.60 worth of the currency over the past seven days. WBTC's volume is below its seven day average as of the past 24 hours, with 202,218,179.23 exchanged in that period. 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 Bitcoin leads to the token's an average long-term technical score of 37 as its consistency, volatility, and relation to long-term averages has given investors reason to be bearish on the token. Click Here to get the full Report on Wrapped Bitcoin (WBTC).

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