- BNB/USD market has been featuring different choppy price movements around definite range spots at $24 and $20.
- The BNB/USD trade still appears not having had the needed energy to portend the bulls’ decent running in the market.
BNB/USD Long-term Trend – Ranging
- Distribution territories: $28, $32, $36
- Accumulation territories: $12, $8, $4
The market valuation of BNB/USD over time has been featuring different choppy price movements around definite range spots. On May 6, the crypto-pair started to lower its value in range zones from around a point at $24 mark down to a point at around $20 line on May 9.
On the following day, the pair began to range upwards very tightly to now hover around its 14-day SMA indicator a bit above the $20 lower range spot. The 50-day SMA is located below the 14-day SMA within the range zones with a small space between them. As at now, the Stochastic Oscillators have slightly crossed at range 20 to point north.
The BNB/USD trade still appears not having mustered the needed energy to portend the bulls’ decent running of the market to a notable higher point out of the current range zones found around $24 and 420 marks. The lower range spot at $20 mark now seems to be the vital point of the current ranging mode as well as the immediate points of the two different directions of this crypto-trade.
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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