BNB/USD Long-term Trend – Ranging Distribution territories: $8, $9, $10 Accumulation territories: $4, $3, $2

Similarly, on January 10, a sudden price decline was witnessed by all the cryptos paired with the US dollar across the globe. In spite of that, the pair still experienced the decline around the same range zones it has been keeping over the time.

The market has been hovering around $6 price territory; that market point had initially witnessed a notable correction between December 4 and 6, 2018. The 14-day SMA is located above the 50-day SMA as said market point is found between them. The Stochastic Oscillators have headed southwards to briefly touch past range 40. Yet, they still point south to suggest a downward price movement of the market.

Going by indicators reading, the key trading zones are now been reduced to around $7 and $6 marks. A strong break of the $6 mark against the 50-day SMA may potentially result in testing a low price point between $5 and $4 territories.

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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