- BNB/USD trade has notably been on a relative increase.
- The BNB/USD market appears to face a rejection within $28 and $26 marks.
BNB/USD Medium-term Trend: Bullish
- Distribution territories: $30, $32, $34
- Accumulation territories: $18, $16, $14
The market worth of Binance Coin has been slowly and steadily appreciating against the price valuation of the US dollar in the medium-term run. After a notable line of range market movements between May 11 and 12, the crypto-trade slightly got push to the north side by breaking the 50-day SMA indicator on May 13.
Since then, there has been a variant relative increase in the BNB/USD market until the present. The 50-day SMA is a bit located below a mark at $22 underneath the Bollinger Middle Band. The Stochastic Oscillators have found a place below range 80 to seemingly point north-east direction.
Currently, the bulls may have to contend with a strong point around $28 and $26 price territories, and failure to break past it further could lead in seeing range price movements. And, that could as well give way to bears to take advantage of the market.
BNB/USD Short-term Trend: Bullish
There has been a notable increase in the market valuation of BNB/USD in the short-term run today. The crypto-trade began its journey to the north while a short bullish candlestick formed a bit over the Bollinger Middle Band, and eventually push against its Bollinger Upper Band to approach $27 mark.
As at now, the market has been trading around $26 with a notable line of several rejections. The Bollinger Middle Band and the 50-day SMA are closely located near a point at $24. The stochastic Oscillators have conjoint between ranges 80 and 60.
The crypto-pair now appears to have a pit stop around the $26 mark for a while. It may be necessary that the bulls retest either the Bollinger Middle Band trend-line or the 50-day SMA indicator for energy mustering to swing upward further.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Like what you read? Give us one like or share it to your friends