BNB/USD Medium-term Trend: Ranging Distribution territories: $7, $7.50, $8 Accumulation territories: $5.50, $5, $4.50

Market territories of between $6.50 and $6 have been the range zones within which BNB/USD has been trading about three days back. The crypto-market saw a low point at around $5.50 on January 13.

Later on, the crypto managed to swing upwards to touch the 50-day SMA indicator on January 14. There were price range movements around the lower range before the emergence of a spike that has made it touch the 50-day SMA again. Both the 50-day SMA and Bollinger Upper Band are now seemingly maintaining a parallel direction with a tiny space between below the $6.50 upper range zone. The Stochastic Oscillators have briefly crossed at around range 60 to point north.

Bulls are now seemingly staging a strong come-back into the market. Traders are equally enjoined to be wary of the 50-day SMA if a reversal is eventually made against it.

BNB/USD market in the short-term run has been on a relative increase since the commencement of trading today. Yesterday, the crypto-market basically saw variant lower lows to the tune of achieving around $5.85 low mark.

The market has now been trading around the Bollinger Upper Band. The 50-day SMA and the Bollinger Middle Band have conjoined a bit above t$6 mark. The Stochastic Oscillators have crossed at range 80 to point south. That suggests that bearish market may soon come to play.

The crypto now seems to have had a rejection a bit above $6.20 mark and going by the Stochastic Oscillators, the crypto-market is now poised to take market control. Traders going short on this crypto-trade now should be cautious of a $6.40 high mark.

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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