- BNB/USD market has been struggling to move away from $16 mark quite over a specific period.
- The BNB/USD pair may lose out in momentum while trying to push northward further from its current $16 range price point.
BNB/USD Long-term Trend – Ranging
- Distribution territories: $24, $28, $32
- Accumulation territories: $8, $6, $4
The market financial stance of BNB/USD has been struggling to move away around $16 mark quite over a specific period. But, it hasn’t succeeded yet either to drive northbound or southward in order to have a clear-cut of the trade direction.
The 14-day SMA has been in the making of directing the pair to the path of northwards while 50-day SMA stands below it to possibly determine its southward direction if broken downward. The Stochastic Oscillators are consolidating around range 80 closer to overbought zone.
From the market point of view, the BNB/USD trade may not be able to take the current price line afar even if it were to suddenly push northward further away from its present range spot. In other words, there’ll be a lack of sustainability in such an upward trade movement. Therefore, the bears may, in the long run, find a good set-up for their decent entry in the crypto-market. Traders may remain calm down and allow that assumption play out before placing an order.
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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