Wrapped BNB receives a strong long-term technical score of 95 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 95% 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 -$85.1700000 (-22.97%) below its 100-day moving average price of $370.830000000 with its current price of $285.670000000. Meanwhile, Wrapped BNB is $285.6700000 (399247744087031.00%) above its 52-week low price of $0.000000000 and -$394.74000000 (40.52%) below its 52-week high of $680.410000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 95. 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 $1,454,579,122.27 with an high average daily volume of $1,963,194,429.06 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 $324,243,889.18 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
WBNB’s historical trading over the past year gives it a a strong long-term technical score of 95 as its price movement in that time has given investors reason to be neutral on the token in the long-term.
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