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

BNB/USD market driving forces are still kept around the same last year’s range boundaries until the present time. The range movements have been densely featuring since December 29 closely around $6 price territory.

The 14-day SMA has been very tightly trending along with the said market line where the pair has been found using as its foundations. The 50-day SMA has been freshly intercepted by the 14-day SMA from below to locate above it. Price has been faintly hovering around both the 14-day SMA and the $6 price territory. The Stochastic Oscillators have conjoined at around range 60. That shows that price consolidation movements are still in action in the market.

The assumption still holds on just as last week’s as $7, $6 and $5 are the basic trading zones of this crypto-market. Similarly, bulls are expected to muster their required strength around the aforementioned trading zones. Traders are enjoined to await strong price action to take place.

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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