Wrapped Bitcoin (WBTC): How Does the Chart Look Friday?

Friday, August 05, 2022 12:34 PM | InvestorsObserver Analysts

Wrapped Bitcoin receives a strong long-term technical score of 83 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 83% 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'.

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 -$3,381.7100000 (-12.81%) below its 100-day moving average price of $26,401.030000000 as its price at the moment sits at $23,019.320000000. Additionally, WBTC is $5,341.7500000 (130.16%) higher than its 52-week low price of $17,677.570000000 while -$139,168.93000000 (14.19%) 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 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 $5,451,206,487.31 with an high average daily volume of $1,547,257,500.36 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 $214,426,119.63 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

Trading patterns over the last year for Wrapped Bitcoin leads to the token's a strong long-term technical score of 83 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the token. Click Here to get the full Report on Wrapped Bitcoin (WBTC).