2019-1-23 14:24 |
BNB/USD Medium-term Trend: Ranging Distribution territories: $7.25, $7.75, $8.25 Accumulation territories: $6, $5.50, $5
BNB/USD market worth has continually been witnessing its price movements in sideways mode tightly around $6.50 price territory from January 20 until the time of writing. Notably, the crypto has been relatively showing a record of different lower highs while it managed to surge upwards on January 14.
Both the 50-day SMA and the Bollinger Lower Band have closely conjoined below the $6.50 mark while price has continued to range along with the Bollinger Middle Band at a near location. The Stochastic Oscillators have dipped into the overbought zone, and they have briefly crossed at range 80 to likely suggest an overbought market condition of this crypto-trade for now.
The two key price points of this market are now found at $7 and $6.50 marks. A strong reversal against the higher point could mean bears’ decent entry, and like wisely, a reversal of the lower mark could see bulls’ coming back into the market.
BNB/USD Short-term Trend: Ranging
In the short-term run of BNB/USD market today, there have been witnessing of lower lows than lower highs in its price movements so far. The market territory of $6.6 has been the major point around which the crypto-worth has been trading since yesterday.
Presently, and yet around the said zone of the market, the crypto seems trying to push southward further against the area where both the 50-day and the Bollinger Lower Band have conjoined. The Stochastic Oscillators are now pointing south at range 50.
This crypto-trade now appears trying to relocate its foundation between $6.50 and $6.40 price territories for another possible upcoming bullish move in the market.
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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