BNB/USD Long-term Trend – Ranging Distribution territories: $9, $10, $11 Accumulation territories: $5, $4, $3

Between January 26 and 28, BNB/USD market encountered a rejection within $8 and $7 market points. As at January 28, the crypto fully got pressed back into its $7 and $6 range zones as being kept over a month back.

The pair, after touching both the 50-day SMA and the $6 lower range mark, has now been striving to move upwards within the range confinements. The 14-day SMA is located above the 50-day SMA, and yet, they are both within the range points. The Stochastic Oscillators have crossed to point north below range 40. That signifies that the crypto-trade upward movement may still have a greater advantage in the market over downward's.

Would there be a sudden stride in the market that eventually sees the price line up to breaking past $8 mark, a reversal is projected to come up sooner than later around the territories above it. Therefore, traders may watch out for a decent entry point to place a sell order while that assumption plays out accordingly.

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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