Wrapped Bitcoin (WBTC) Up 0.23% Monday: What’s Next?
- December 26, 2022
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Wrapped Bitcoin (WBTC) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Monday, the Wrapped Tokens has increased 0.23% to $16798.22.
InvestorsObserver gives Wrapped Bitcoin a low volatility rank of 10, placing it in the bottom 10% of cryptos on the market.
The Volatility Gauge follows meaning that one day won’t make or break its rank.
WBTC’s low volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the token has relatively narrow price swings and is well protected from price manipulation.
Wrapped Bitcoin price is trading near resistance. With support set at $16700.48 and resistance near $16823.12. This leaves Wrapped Bitcoin with potential selling pressures ahead as it may be getting over extended.
What is a Token?
Tokens are digital assets that exist on another cryptocurrency’s blockchain.
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