BNB/USD Medium-term Trend: Ranging Distribution territories: $7, $7.50, $8 Accumulation territories: $5.50, $5, $4.50

Last year December 31, BNB/USD managed to test $6.50 upper range, but since January 1, the crypto has been witnessing a series of lower lows a bit above the $6 lower range. The current range zones have been in play since around Dec. 28 until now.

Price has been tightly hovering around the Bollinger Middle Band within the range. Both the Bollinger Lower Band and the 50-day SMA have conjoined closely below lower range. The Stochastic Oscillators have briefly crossed at range 40 to point south.

A breakdown of the $6 lower range could signify a strong return of bears in the market. Meanwhile, a breakout of the $6.50 upper range may potentially allow bulls to swing northwards further past the $7 immediate mark.

Today, in the short-term market run outlook, BNB/USD has been majorly featuring lower lows within $6.30 and $6.10 range zones. Yesterday, the currency pair was in a bearish outlook while it fell from around $6.34 point to closely test around $6 mark.

The 50-day SMA is located over the Bollinger Middle Band. Price still moves along with the Bollinger Middle Band. The Stochastic Oscillators have slantingly bent southward past range 40 slightly.

There still every tendency that this crypto would witness more downward price movements while its $6.30 upper range point remains unbroken northward. Like wisely, its sudden breakout could lead to bull’s market reappearance.

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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