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BNB/USD Skyrockets: Breaking Resistance, Eyes on $800-$1000

BNB/USD breaks significant resistance $680 following the footsteps of Bitcoin. It hits an high of $689   and is currently trading around $683.90.

Overall bias remains bullish as long as support of $500 holds. It trades above the 55 and 34,200 EMA on the 4-hour chart. Near-term support is around $640, any breach below targets $600/$570/$520.  If the pair closes below $500, potentially leading to further declines towards $400.

Immediate Resistance is at $700. A successful breakout above this resistance could suggest bullish momentum, with further gains possible towards $730/$800/$1000.

Indicators (4-Hour Chart)

  • Directional Movement Index: Bullish
     
  • CCI (50): Bullish

Trading Strategy

It is good to buy on dips around $669 with a stop-loss set at $630 and a target price of $800/$1000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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