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

BNB/USD markets last week’s bullish trend got exhausted on December 24 after averaging $7 mark. The market briefly reverted against the 50-day SMA on the same day to start a ranging motion on the following day around $6 price territory.

Price has now been hovering around the 50-day SMA’s trend-line. The 14-day SMA has slightly bent northward below the 50-day SMA with a short space distancing them. That brightens a bullish bias at the expense of any probable bears’ weaknesses in the market. The stochastic Oscillators have feebly crossed at range 60 to suggest a possibility of getting more ups in the market.

Three key market lines are now in focus; $7, $6, and $5 as they have made the basic trading zones of this crypto-trade. Bulls may find it necessary to garner their momentum within territories below the $6 market point so as to have a decent swing uptrend.

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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