Wrapped Bitcoin (WBTC) Rises 0.34%, Underperforms the Crypto Market Saturday – InvestorsObserver

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Saturday, December 31, 2022 03:05 PM | InvestorsObserver Analysts

Wrapped Bitcoin (WBTC) has been relatively less volatile when compared to other cryptocurrencies. So far Saturday, the Wrapped Tokens has increased 0.34% to $16547.8.

Low Volatility

InvestorsObserver gives Wrapped Bitcoin a low volatility rank of 9, placing it in the bottom 9% of cryptos on the market.

The Volatility Gauge analyzes this means that the rank represents its recent trends and isn’t overly influenced by a sudden spike – or two – in volatility. WBTC’s low volatility reading comes 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 near $16377.54 and resistance at $16601.66. 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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