BNB/USD Dip Buying Opportunity: Eyeing $800 and $1000 Targets

BNB/USD struggled to break above the significant resistance of $700 and showed a minor sell-off after hitting a high of $697.70. It hit an intraday low of $680  and is currently trading around $681.50.

Short-term trend remains bullish as long as support of $650 holds. It trades above the 55 and 34,200 EMA on the 4-hour chart. Near-term support is around $650, any breach below targets $630/$600/$570/$520.  If the pair closes below $500, potentially leading to further declines towards $400.

Immediate Resistance is at $700. A successful breakout above this resistance could suggest bullish momentum, with further gains possible towards $730/$800/$1000.

Indicators (4-Hour Chart)

• Directional Movement Index: Neutral
   
• CCI (50): Bullish

Trading Strategy

It is good to buy on dips around $665 with a stop-loss set at $630 and a target price of $800/$1000.