BNB/USD: Profit-Taking Sees Dip, But Bullish Trend Holds Eyeing $1000

BNB/USD pared some of its gains due to profit booking.  It hits an intraday low of $798 and is currently trading around $801.70.

Short-term trend remains bullish as long as the support $730 holds. It trades above the 55 and 34, below the 200 and 365  EMA on the 4-hour chart. Near-term support is around $780, any close below targets  $755/$730/$700/$670/$650/$644/$628/$598.  If the pair closes below $500, potentially lead to further declines towards $400.

Immediate Resistance is at $830.Any breakout above this resistance confirms bullish momentum and a jump towards $862/$900/$1000.

Indicators ( 4-hour Chart)

Directional Movement Index: Neutral

CCI (50):  Bullish

Trading Strategy

It is good to buy on dips around $780 with a stop-loss set at $730 and a target price of $1000.