InvestorsObserver gives Wrapped Bitcoin a strong long-term technical score of 73 from its research.
The proprietary scoring system considers the historical trading patterns from recent months to a year of the tokens’ support and resistance levels, in addition to where they stand in relation to long-term averages. Traders can use the analysis to determine whether the investment is a good buy-and-hold opportunity at the moment. As of this writing, WBTC has a higher long-term technical analysis score than 73% of cryptos. When allocating their assets, buy-and-hold investors looking for steady growth will find Long-Term Rank most useful. By combining long- and short-term technical scores, portfolio managers can identify tokens that have bottomed out.
Is It Too Late To Invest?
WBTC’s current price of $42,786.180000000 is -21.60% (-$11,787.8100000) below its 100-day moving average of $54,573.990000000. WBTC is currently $13,734.3900000 (147.24%) above its 52-week low of $29,051.790000000 and -$119,402.07000000 (26.37%) under its 52-week high price of $162,188.250000000.
When bitcoin’s current price is compared with the token’s long-term average and 52-week high and low, it gets a strong long-term technical score of 73.
Based on the price movement and range of WBTC, investors are neutral about the token at this time. Over the past seven days, Wrapped Bitcoin has generated an average daily volume of $1,320,665,821.56 worth of the currency, giving it a market capitalization of $11,418,807,060.20.
As of the past 24 hours, WBTC has exchanged 188,282,278.56 with a volume below its seven-day average. Wrapped Tokens are tokens that represent another asset on-chain. It can be a cryptocurrency on a different blockchain, or it could be another type of asset, such as a stock or commodity. This allows crypto traders to access non-crypto assets and trade on one chain to gain exposure to assets on a different chain.
Based on its past price movements, WBTC has a long-term technical score of 73, suggesting that investors are neutral about the token in the long run.
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Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
