BNB/USD Surges After Holding 365 EMA—Can Bulls Hit $800?

BNB/USD  took support near 365 H EMA and showed a minor pullback.  It hits an intraday high of $693 and is currently trading around $687.89.

The short-term trend remains bullish as long as the support level of $598 holds. It trades above the 55 and 34, 200 and 365  EMA on the 1- hour chart. Near-term support is around $670; any close below targets $ 650, $644, $628, $598, $570, or $520.  If the pair closes below $500, potentially lead to further declines towards $400.

Immediate Resistance is at $710.Any breakout above this resistance confirms bullish momentum and a jump towards $730/$800/$1000.

Indicators (1- hour Chart)

Directional Movement Index: Neutral

CCI (50):  Bearish

Trading Strategy

It is good to buy on dips around $675 with a stop-loss set at $650 and a target price of $800/$1000.