Coin Binance (BNB) Daily Price Forecast November 7th

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Medium-term trend BNB / USD: variable

Distribution territories: $ 10.25, $ 10.75, $ 11.25
Accumulation territories: $ 9.25, $ 8.75, $ 8.25

The BNB / USD market has shifted markedly with lower levels and kept the same territories last week. On November 1, cryptography dropped from the midpoint of the range to test the lower interval point and, on November 3, rose high and slightly managed to get past the upper Bollinger band inside the range. interval.

Between 5 and 6 November, there was mainly a price style within the upper and central Bollinger bands. Today, the crypt managed to briefly test beyond the upper range point. The market has now been traded around the upper Bollinger Band because the 50-day SMA trend line is very close to the lower Bollinger Band. Stochastic Oscillators appeared to indicate briefly south a little above the 60 range.

It would be worth waiting for a strong price action, canceling a bearish move to launch a long position.

Short-term trend BNB / USD: variable

Since the trading sessions begin today, the BNB / USD market has also fluctuated within the well-defined borders of $ 10 and $ 9.80. In a sense, the crypt briefly witnessed the market a little above the $ 10 price territory.

Yesterday, most of the movements in price changes were in $ 9.80 and $ 9.60 territories. In the short term, the trading indicators are located within the $ 10 and $ 9.60 price lines. The price has been around the Bollinger Band headquarters, while the 50-day SMA trend is below it. The stochastic oscillators have traversed weakly to indicate the south below the 60 range. This means that a downward movement in prices may soon occur and may be in a way of presenting lower lows.

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

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