BNB/USD Blasts Past Resistance—Is the Bull Run Just Getting Started?
BNB/USD gained sharply as altcoin ETH gained momentum. It hits an intraday high of $720.50 and is currently trading around $720.30. The short-term trend remains bullish as long as support at $598 holds. It trades above t…
BNB/USD gained sharply as altcoin ETH gained momentum. It hits an intraday high of $720.50 and is currently trading around $720.30.
The short-term trend remains bullish as long as support at $598 holds. It trades above the 55 and 34, 200 and 365 EMA on the 4-hour chart. Near-term support is around $670; 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 $730.Any breakout above this resistance confirms bullish momentum and a jump towards $762/$800/$1000.
Indicators (4-hour 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 $670 and a target price of $800/$1000.
Potential short-liquidation exposure was reported above $85,000 in the week leading up to Oct. 15. A separate cluster near $75,000 has no stated position direction.
Issuance will stay level for about 12 months, then taper to zero over 24 months. Five community-nominated council candidates require confirmation by veHNT holders.
