BNB/USD Medium-term Trend: Bullish Distribution territories: $9, $9.50, $10 Accumulation territories: $6, $5.50, $5

BNB/USD trade valuation has been relatively experiencing an increase in its price movements as at current. Over a week back, the crypto was in different closer range zones at variant points in time.

Today, the market line has regained its strength after getting lower on the first 4-hour bearish candlestick formed to eventually test $8.50 high mark. Price has now been trading along with Bollinger Upper Band around $8 market territory. Both the 50-day SMA and the Bollinger Lower Band are found around $6.50.The Stochastic Oscillators are currently consolidating within the overbought zone.

As the crypto-market appears to still be in its swing uptrend, it may now be finding a foundation around its Bollinger Middle Band for a decent re-entry of a long order of the market. Assumably, a strong breakdown of the Bollinger Middle Band could cause invalidation of the upward trend.

Yesterday, in the BNB/USD market, there were price range movements during the first trading segment to an extent. Towards the end, the crypto began striving to push northwardly.

Today, the pair has once slightly dropped towards its Bollinger Middle Band to find support for its uptrend continuation in the market. Currently, price has been retracing towards the Bollinger Middle Band probably to rebuild its support around it again. Both the 50-day SMA and the Bollinger Lower Band are located closely below $7.50 price point. The Stochastic Oscillators have slightly opened hairs at range 75 to point south.

The aforesaid market point now seems to be the pivot to signify an end to the continuation of this crypto-trade bullish assumption.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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