BNB/USD Long-term Trend – Ranging
Distribution territories: $8, $9, $10
Accumulation territories: $3, $2, $1
The BNB/USD market worth has been experiencing choppy price movements around $5 mark over about a week until today. On December 12, the crypto weakly and briefly touched past the 14-day SMA northwards only to lose out to the US dollar on the following day.
The present range zones do surface around $5 and $4 marks in the long-term trade chart. The 50-day SMA is found at $7 market line over the 14-day SMA that is situated at $5 market line. The crypto-market has been trading below the 14-day SMA and within the range. The Stochastic Oscillators have crossed around range 25 to seemingly start a consolidation move that, yet, another warning that the bulls lack the potency of coming back into the BNB/USD trade.
The bulls may still be finding it uglier against the strong US dollar market valuation while this week’s trading sessions commence fully. Nevertheless, a strong reversal of a bearish move could give in to an upswing but may be short-lived; that is may lack sustainability.
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