BNB/USD pared some of its gains due to profit booking. It hits a high of $707 and is currently trading around $680. Short-term trend remains bullish as long as the support $598 holds. It trades above the 55 and 34, 200 a…
BNB/USD pared some of its gains due to profit booking. It hits a high of $707 and is currently trading around $680.
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 $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 $710.Any breakout above this resistance confirms bullish momentum and a jump 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 $680 with a stop-loss set at $650 and a target price of $800/$1000.
