BNB/USD recovered above $800 after a minor sell-off below the 365-H MA. It hit a low of $766 yesterday and is currently trading around $808.
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 1-hour chart. Near-term support is around $760, any close below targets $740/ $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 ( 1-hour Chart)
Directional Movement Index: Neutral
CCI (50): Neutral
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
