BNB/USD showed a minor profit booking as the crypto market declined after Trump's tariff letters. It hits an intraday low of $657.63 and is currently trading around $659.72.
Short-term trend remains bullish as long as the support $598 holds. It trades above the 55 and 34, 200 and 365 EMA on the 4-hour chart. Near-term support is around $653 (365- H EMA), any close below targets $644/$628/$598/$570/$520. If the pair closes below $500, potentially lead to further declines towards $400.
Immediate Resistance is at $669.Any breakout above this resistance confirms bullish momentum and a jump towards $680/$730/$800/$1000.
Indicators (4-hour Chart)
- Directional Movement Index: Neutral
- CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $650 with a stop-loss set at $635 and a target price of $800/$1000.
