BNB/USD pared some of its gains due to profit booking. It hit a low of $795 yesterday and is currently trading around $804.
Short-term trend remains bullish as long as the support $698 holds. It trades above the 55 and 34, 200 and 365 EMA on the 4-hour chart. Near-term support is around $795; any close below targets $ 786, $ 740, $700, $670, $650, $644, $628, or $598. If the pair closes below $500, potentially lead to further declines towards $400.
Immediate Resistance is at $830.Any breakout above this resistance level confirms bullish momentum and a potential jump towards $ 862, $900, or $1000.
Indicators ( 4-hour Chart)
Directional Movement Index: Neutral
CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $780-82 with a stop-loss set at $740 and a target price of $1000


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