Wrapped BNB receives a strong long-term technical score of 92 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 92% 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’.
Trading Analysis
WBNB is currently -$119.2100000 (-24.17%) below its 100-day moving average price of $493.230000000 with its current price of $374.020000000. Meanwhile, Wrapped BNB is $374.0200000 (527669131999164.00%) above its 52-week low price of $0.000000000 and -$356.40000000 (49.84%) 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 92. 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 $2,034,450,772.97 with an high average daily volume of $5,047,773,842.98 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 $721,048,788.01 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 92 as its price movement in that time has given traders reason to be neutral on the token in the long-term.
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