BNB/USD Medium-term Trend: Bullish Distribution territories: $7.50, $8, $8.50 Accumulation territories: $6, $5.50, $5

BNB/USD market trading line has been relatively being on an increase since yesterday. The crypto started by getting a slight spike against $6.50 mark after finding a foundation a bit above the Bollinger Middle Band.

Towards the end of trading sessions on January 6, the pair saw a series of choppy price movements until the last trading period on its following day. The Bollinger Middle Band has moved slightly a bit over $6.50 point as the 50-day SMA maintains a short gap underneath it. Price has been trading around the Bollinger Upper Band presently. The Stochastic Oscillators have closed hairs at around range 80.

It may be necessary for this crypto-market to get a correction from the current swing uptrend but breaking downward against its 50-day SMA indicator could cause a contrary sentiment.

The market trading worth of BNB/USD in the short-term run has also been in a bullish outlook today. Only about a few hours ago, the crypto has appeared trying to get some levels of correction within the Bollinger Bands.

Yesterday, about the same $7 high market value was achieved before it got a series of lower lows to find support along the Bollinger Middle, hence today’s relative northward push. The 50-day indicator is underneath the Bollinger Bands. The Stochastic Oscillators have crossed the overbought zone to point south slightly below range 80.

Traders may need to wait a good buy set-up rejoin the swing uptrend of this crypto-trade.

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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