BNB/USD Medium-term Trend: Ranging

  • Distribution territories: $10.50, $11, $11.50
  • Accumulation territories: $8, $7.50, $7

There have been a series of lower lows and lower highs in the BNB/USD market valuation features this week. In about a week back, the crypto-trade witnessed more of its price movements in a sequential order towards the north direction.

The market has been able to test the Bollinger Upper Band while very tightly located at $10 mark on February 12. As at now, the crypto-trade has been fluctuating between $9.50 and $9 points. The Bollinger Bands are located over the 50-day SMA. The stochastic Oscillators have headed southwards to briefly touch range 20.

The 50-day SMA as now keeps below the Bollinger Band, and with the degree of range point that the Stochastic Oscillators have headed downwards to, still indicate that there are brighter probable good set-ups for more ups than downs in this crypto-market.

BNB/USD Short-term Trend: Ranging

The BNB/USD market in the short-term outlook today has been more of featuring lower lows than lower high in its price action. $9.4 and $9.2 marks have been the range zones since the trading sessions begin today.

Yesterday, the crypto recorded a decline in price action from around $9.87 down towards averaging $9 low mark. The 50-day SMA is closely located over the Bollinger upper Band a bit above the upper range zone. The Stochastic Oscillators are seemingly attempting to cross and point south within ranges 40 and 20. That suggests the impact of bears in the market is totally not yet over.

The Bears seem to still be in control of this crypto-trade with a weak force. In that wise, that could eventually lead to having a good set-up for the bulls to take up the market moving charge.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

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