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

InvestorsObserver gives Wrapped BNB a weak long-term technical score of 32 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 32% 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 32 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Wrapped BNB!

Trading Analysis

Wrapped BNB’s price is -$15.8500000 (-5.44%) below its 100-day moving average price of $291.100000000 as its price at the moment sits at $275.260000000. Additionally, WBNB is $275.2600000 (384117508698350.00%) higher than its 52-week low price of $0.000000000 while -$385.75000000 (40.13%) under its 52-week high of $661.000000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives WBNB an average long-term technical score of 32. Long-term trading movement of Wrapped BNB suggest that investors are bearish on the token at the moment.

Wrapped BNB has a market capitalization of $1,037,297,742.89 and a relatively high average daily volume with $862,920,357.56 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 407,507,874.57 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

Trading patterns over the last year for Wrapped BNB leads to the token’s a weak long-term technical score of 32 as its consistency, volatility, and relation to long-term averages has given investors reason to be bearish on the token.

Click Here to get the full Report on Wrapped BNB (WBNB).