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.
