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.
