Is Wrapped BNB (WBNB) Heading the Right Direction Friday?

InvestorsObserver gives Wrapped BNB a strong long-term technical score of 86 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the token’s support and resistance levels, in addition to where it is relative to long-term averages. The analysis helps to determine whether it’s a strong buy-and-hold investment opportunity currently for traders.

WBNB at this time has a superior long-term technical analysis score than 86% of crytpos in circulation. The Long-Term Rank will be most relevant to buy-and-hold type investors who are looking for strong steady growth when allocating their assets. Combining a high long and short-term technical score will also help portfolio managers discover tokens that have bottomed out.

InvestorsObserver is giving Wrapped BNB a 86 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Wrapped BNB!

Trading Analysis

WBNB is currently $7.6500000 (1.87%) above its 100-day moving average price of $410.050000000 with its current price of $417.700000000. Meanwhile, Wrapped BNB is $417.7000000 (591169015368080.00%) above its 52-week low price of $0.000000000 and -$312.71000000 (55.82%) below its 52-week high of $730.410000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 86. Trends for the long-term trading history of Wrapped BNB suggest that traders are currently neutral on the token.

Wrapped BNB has a total market value of $2,374,058,778.16 with an high average daily volume of $3,192,245,617.14 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, WBNB’s volume is below its average with $554,251,068.69 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

Technical analysis of Wrapped BNB over the past year results in the crypto receiving a a strong long-term technical score of 86 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).