BNB/USD Long-term Trend – Ranging

Distribution territories: $13.000, $15.000, $17.000.
Accumulation territories: $8.000, $6.000, $4.000.

Basically, there was visible re-featuring of lower lows and lower highs in the BNB/USD market trading sessions over two weeks. In about a week and some days back, most of the choppy movements occurred underneath both the two SMAs’ trend-lines.

It has also been noted that the ranging movements have come to take place within three different horizontal lines of $12.000, $10.000, and $8.000 respectively. Price has been hovering slightly above the two SMAs as they are both closely located around the $8.000 horizontal line. The two SMAs have conjoined as they maintain an east direction. The Stochastic Oscillators have moved slantingly north-east towards range 80. This suggests that neither bulls nor bears have been able to gain the BNB/USD market advantage as at now.

There are probably factors that the BNB/USD will still have to experience lower lows or slight downward price movement towards the immediate accumulation territory of $8.000 in the next trading sessions. A decent bearish reversal may have a great opportunity for placing a long entry position.

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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