BNB/USD Medium-term Trend: Ranging

Distribution territories: $6.50, $7, $7.50
Accumulation territories: $4, $3.50, $3

There has been an occurrence of major lower lows in the BNB/USD market about a week ago. Most of the lower range movements occurred within the middle and lower Bollinger Bands until part of yesterday trading sessions.

The ranges have two closer dimensional zones and they are: $6.50 and $5.50 marks being the first range boundaries and the second comprise of $5.50 and $4.50 marks. The Bollinger Bands are within the second range as the 50-day SMA is located at the upper range point of $5.50 price territory. Price has been fluctuating below the upper range mark presently. The Stochastic Oscillators have briefly touched range 80 from below.

There are indications backing a potential downward price movement at this present trading time of this crypto. It could be stylishly drawn southwards to either test the last market low point or a slight push beyond it.

The BNB/USD short-term trend also features two different range boundaries this week as similar to that of the medium-term. The lower range segment comprises of $5 and $4.80 marks, and the upper segment is a bit bigger with $5.40 and $5 marks.

Today, the crypto has featuring lower lows below the upper Bollinger Band. The 50-day SMA is located at the $5 market line, and a bit underneath the middle Bollinger Band. The Stochastic Oscillators have penetrated into the overbought zone to consolidate within it.

The BNB/USD trade could still witness a different line of lower lows as well as lower highs in the next trading hours or days to keep either of the two trading zone segments intact.

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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