BNB/USD: Navigating Key Levels as Bullish Bias Lingers
BNB/USD trades flat with positive bias It hits a high of $869.80 this week and is currently trading around $763.20. Short-term trend remains bullish as long as the support $698 holds. It trades above the 55 and 34, below…
BNB/USD trades flat with positive bias It hits a high of $869.80 this week and is currently trading around $763.20.
Short-term trend remains bullish as long as the support $698 holds. It trades above the 55 and 34, below the 200 and 365 EMA on the 1-hour chart. Near-term support is around $729, any close below targets $700/$670/$650/$644/$628/$598. If the pair closes below $500, potentially lead to further declines towards $400.
Immediate Resistance is at $780.Any breakout above this resistance confirms bullish momentum and a jump towards $800/$820/$830/$862/$900/$1000.
Indicators ( 1-hour Chart)
Directional Movement Index: Neutral
CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $700 with a stop-loss set at $600 and a target price of $1000.
The $0.131 mark was the late-September high; a revisit would depend on Bitcoin (BTC) strengthening and crypto-market sentiment improving. No timeframe was given.
Binance US is reportedly seeking to raise up to $100 million in fresh funding at a valuation of approximately $1 billion as the cryptocurrency exchange looks to strengthen its position in the competitive U.S. market. Acc…
