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BNB/USD Eyes $1000: Key Support Holds for Further Gains

BNB/USD  took support near the trend line and showed a minor pullback.  It hit an intraday high of $656.80 and is currently trading around $656.30.

Short-term trend remains bullish as long as support $625 holds. It trades above the 55 and 34,200 EMA on the 4-hour chart. Near-term support is around $643 (365- 4H EMA), any close below targets $625/$600/$570/$520.  If the pair closes below $500, potentially leading to further declines towards $400.

Immediate Resistance is at $700.Any breakout above this resistance confirms bullish momentum and a jump to could suggest bullish momentum, with further gains possible towards $730/$800/$1000. Near-term resistance is around  $680.

Indicators (4-Hour Chart)

  1. Directional Movement Index: Neutral
  2. CCI (50):  bearish

Trading Strategy

It is good to buy on dips around $650 with a stop-loss set at $600 and a target price of $800/$1000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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