BNTUSD Selling Tendency Set To Expire On Buyers’ Trend
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BNTUSD Analysis – BNTUSD Selling Tendency Set to Expire on Buyers’ Trend
BNTUSD selling tendency is set to expire on a buyers’ trend. As of right now, the price swing is swinging low on price influence. As a result of the fact that the sell traders were responsible for setting up the price swing down to the trend line, buying pickup should now be anticipated following a rebound on the positive trend line. A selling reaction, however, still constitutes a major deal on the cryptographic market, so traders should be alert for a rebound in price on the trend line.
BNTUSD Key Zones
Resistance Zones: $1.16800, $1.18500
Support Zones: $$1.16200, $0.43700
The crypto market lost a lot of buying opportunities as a result of the significant bearish trend. Because the Money Flow index indication was also seeing a sharp decrease in mid-June, a pool of selling strength was drained down. The BNTUSD experienced a severe decline from the key area of $1.16200 to the extremely low of $0.43700. The bearish collapse is a big hit, but it gives sellers more power over the BNTUSD price.
After a negative disposition hit the crucial $0.43700 zone, the purchasers had a hard time reviving bullish action. On the trend line action, however, the bulls start to mark their progress. However, the Money Flow Index indicator is still declining, indicating that sellers are acting on the trend line. As we anticipate purchasing action on the trend line, the Moving Average Convergence and Divergence indicator has already surged over the 0.000 signal mark.
Market Expectations
The 4hr chart has indicated that the bearish lapse is almost done. The buyers will respond right away because a buying tendency is anticipated to emerge when the sell traders hit the trendline. So, the crucial zone around 1.16200 is where the whole bullish ride is anticipated.
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