I can be short, occasionally lost, sometimes drawn but never colored

Question

You can catch me and hold me but only for a while

Tell someone I am bad and wipe out his smile

I can be saved, I can be wasted

I can be analyzed, I can be tested

I can be taken, rarely seen and can be heard

I can be short, occasionally lost, sometimes drawn but never colored.

Who am I? One word.

Answer 1

I think you are:

Breath.

You can catch me and hold me but only for a while

Catch your breath after exercise, or hold your breath - but not for too long!

Tell someone I am bad and wipe out his smile

Telling someone they have bad breath is probably going to dampen their spirits...

I can be saved, I can be wasted

Save your breath - avoid saying something to which little attention will be paid... Or waste your breath and say it anyway.

I can be analyzed, I can be tested

Don't drink and drive guys! The breath tester/analyser will find you! (And it's a reprehensible thing to do, regardless)

I can be taken, rarely seen and can be heard

Take my breath away - it's so cold you can see my breath, here - listen.

I can be short, occasionally lost, sometimes drawn but never colored

Short of breath, or even breathless. Better draw another breath.