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

BNB/USD market valuation has been featuring variant short ups around $7 and $6 marks from January 13 until present. This crypto-trade has been subjected to making several failing attempts while it either touches or approaches the $7 market line over a month.

About two days back, the pair has been choppily moving a bit above the 14-day SMA but below the $7 upper range point. The 14-day SMA is located over the 50-day SMA. The Stochastic Oscillators have appeared to point north-east direction a bit below range 80. That calls for caution against exerting further trading positions in the market for now.

Bulls’ market driving force seems to continue getting exhausted at the $7 upper range mark as long as there has not been a real Japanese bullish candlestick emerged in the market to break it out northwards. Nevertheless, a sudden correction or rejection at the said market point could be a signal for a bearish market entry point.

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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