BNB/USD trades high er with a positive bias. It hit a high of $669 and is currently trading around $665.20.
Short-term trend remains bullish as long as support of $625 holds. It trades above the 55 and 34,200 EMA on the 4-hour chart. Near-term support is around $640 (365- 4H EMA), any breach below targets $625/$600/$570/$520. If the pair closes below $500, potentially leading to further declines towards $400.
Immediate Resistance is at $680. Major resistance is around $700.Any breakout above this resistance confirms bullish momentum., a jump to $730/$800/$1000.
Indicators (4-Hour Chart)
- Directional Movement Index: Neutral
- CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $650 with a stop-loss set at $600 and a target price of $800/$1000.
