Wrapped BNB (WBNB): How Does it Rank Thursday on Long-Term Trading Metrics?

Thursday, March 28, 2024 07:55 AM | InvestorsObserver Analysts

Wrapped BNB receives a strong long-term technical score of 71 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. WBNB currently holds a superior long-term technical analysis score than 71% 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 BNB a 71 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Wrapped BNB!

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Trading Analysis

WBNB is currently $213.3800000 (57.14%) above its 100-day moving average price of $373.410000000 with its current price of $586.790000000. Meanwhile, Wrapped BNB is $383.6100000 (283.39%) above its 52-week low price of $203.180000000 and -$53.28000000 (90.11%) below its 52-week high of $640.070000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 71. Trends for the long-term trading history of Wrapped BNB suggest that traders are currently neutral on the token. Wrapped BNB has a market capitalization of $1,130,642,251.02 and a relatively high average daily volume with $3,271,855,566.09 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, WBNB's volume is below its seven day average with 464,506,540.04 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.

Summary

Technical analysis of Wrapped BNB over the past year results in the crypto receiving a a strong long-term technical score of 71 as its price movement in that time has given traders reason to be neutral on the token in the long-term. Click Here to get the full Report on Wrapped BNB (WBNB).