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BNB/USD breaks significant resistance $730 as the altcoins season begins. It hits an intraday high of $736.60 and is currently trading around $736.30..
Short-term trend remains bullish as long as the support $600 holds. It trades above the 55 and 34, 200 and 365 EMA on the daily chart. Near-term support is around $680; any close below targets $650/$644/$628/$598/$570/$520. If the pair closes below $500, potentially lead to further declines towards $400.
Immediate Resistance is at $750.Any breakout above this resistance confirms bullish momentum and a jump towards $800/$1000.
Indicators ( daily Chart)
Directional Movement Index: Bullish
CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $700 with a stop-loss set at $650 and a target price of $800/$1000.
