BNB/USD Long-term Trend – Ranging Distribution territories: $12, $13, $14 Accumulation territories: $6, $5, $4

Since February 10 while BNB/USD trade managed to slightly surge past $9 mark, the crypto has been experiencing price range movements. The crypto encountered rejections on two different occasions between February 11 and 12, and that has led to its current range movements.

The 14-day SMA still keeps trending northwards below the market trading zone. The 50-day SMA is located underneath the 14-day SMA. The Stochastic Oscillators have crossed hairs at range 80 to seemingly begin a consolidation movement around it. The BNB/USD market has got to one of the general market phenomena as regards its choppy moving mode after its relative surging northwards.

The crypto-trade’s range zones presently are $10 and $9 marks. The bullish market may continue while its strength does not eventually get weakened around the range zones. Like wisely, bears could make a come-back between $12 and $10 price territories if a reversal bid features during a volatile swing uptrend in the market.

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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