BNB/USD jumped more than $100 in the past week as the altcoin season begins. It hits an intraday high of $765 and is currently trading around $762.85.
Short-term trend remains bullish as long as the support $600 holds. It trades above the 55 and 34, 200 and 365 EMA on the daily chart. Near-term support is around $740; any close below targets $ 700, $670, $650, $644, $628, $598, $570, or $520. If the pair closes below $500, potentially lead to further declines towards $400.
Immediate Resistance is at $770.Any breakout above this resistance confirms bullish momentum and a jump towards $800/$1000.
Indicators ( daily Chart)
Directional Movement Index: Bullish
CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $730 with a stop-loss set at $700 and a target price of $800/$1000.
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