BNB/USD Medium-term Trend: Bullish

Distribution territories: $10.8000000, $11.000000, $11.2000000
Accumulation territories: $9.8000000, $9.6000000, $9.4000000

BNB/USD as at the beginning of trading hours yesterday moved frequently in a ranging style along both the middle Bollinger Band and the 50-day SMA. Both bull and bear were almost having an equal driving advantage against each order.

But, in the medium run, the bull got the harder push as the crypto market price was driven northward past the upper Bollinger Band to touch $10.6000000 price territory. Presently, the market price line has been hovering around $10.4000000 and $10.1000000 price territories. The Stochastic Oscillators are seemingly consolidating around range 60. Traders are advised to watch out for a bearish reversal to consider launching a long position entry.

In about a few days ago, this crypto was experiencing most of its market price movements within a well-defined range-bound region marked at $10.0000000 and $9.8000000. A few hours before yesterday lapsed, BNB/USD suddenly started seeing its price value getting pushed upward to rebound off the range.

The market price line further got pushed upwards past the upper Bollinger Band and also distinctively over the $10.4000000 price territory. As at now, the crypto is seemingly making a correction from the last price hike as price has been traded around the territories of $10.3000000 and $10.0000000. The Stochastic Oscillators have crossed briefly above range 40. They are seemingly pointing north. This denotes that bullish trend is probably finding its way back to continue on a bullish market trend mode.

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

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