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BNB/USD Stages Strong Comeback: Eyes Set on $800 and Beyond

BNB/USD  recovered sharply following the footsteps of Bitcoin. It hit an intraday high of $657 and is currently trading around $656.70.

Short-term trend remains bullish as long as support $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 $700.Any breakout above this resistance confirms bullish momentum and a jump to could suggest bullish momentum, with further gains possible towards $730/$800/$1000. Near-term resistance is around  $680.

Indicators (4-Hour Chart)

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

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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