Does it score well on long-term trade metrics on Thursday?
InvestorsObserver gives Wrapped Bitcoin a strong long-term technical score of 77 from its research. The proprietary scoring system takes into account the historical trading patterns of the past months to a year of the token’s support and resistance levels, as well as where it is relative to long-term averages. The analysis helps determine whether it is a strong buy-and-hold investment opportunity for traders. WBTC currently has a superior long-term technical analysis score than 77% of the chalk bags in circulation. The long-term rating will be most relevant to buy-and-hold investors looking for strong consistent growth when allocating their assets. Combining a high long-term and short-term technical score will also help portfolio managers spot tokens that have bottomed out.
Trade analysis
The current trading price of $17,405.950000000 for WBTC is -$1,280.9000000 (-6.85%) below the token’s 100-day moving average of $18,686.840000000. WBTC, meanwhile, is $1,887.0700000 (112.09%) above its 52-week low of $15,518.880000000 and -$34,100.76000000 (33.77%) below its 52-week high of $51,006. Wrapping Bitcoin’s current price against the token’s long-term average and 52-week high and low gives the crypto a strong long-term technical score of 77. The price movement and range of WBTC suggest that investors are neutral on the token at this point. time. Wrapped Bitcoin has a total market capitalization of $3,232,464,398.20 with a high average daily volume of $750,888,542.34 of the currency exchanged over a typical 24-hour period. As of the last 24 hours, WBTC’s volume is below average with $149,171,660.14 exchanged in total. This token’s subclass Wrapped Tokens: A wrapped token is an on-chain representation of another asset. It could be a cryptocurrency represented on another blockchain, or it could be another form of asset, such as a stock or commodity. This allows crypto traders to access non-crypto assets and trade on one change to gain exposure to assets on another chain.
Summary
WBTC’s historical trading over the past year gives it a strong long-term technical score of 77 as the price movement in that time has given investors reason to be neutral on the token in the long term. Click here for the full Wrapped Bitcoin (WBTC) report.
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