- The bulls sustained momentum in the long-term outlook.
- $44.00 in the supply area is on the card.
BNB/USD Long-term Trend: Bullish
Supply zone: $50.00, $70.00, 90.00
Demand zone: $10.00, $8.00, $6.00
BNBUSD is in the bullish trend in its long-term outlook. The bullish momentum was briefly lost on 26th May after a steady increase in price to $38.64 in the supply area. The drop in price to $29.83 in the demand area was initiated by the bearish spinning top.
$29.64 in the demand area was the low of the week at the lowerline of the channel as the candle closed with a wick an indication of exhaustion.
A bounce to the upside is most expected. The confirmation with the bullish hammer closing above the 10-EMA was most suitable on 31st May. Increased bullish momentum the candle pushed price back up to $34.67 in the supply area.
$44.00 in the upper line of the channel is the bulls’ initial target in the long-term.
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