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BNBUSD Retreats from Record High: Eyes $1300 Rebound or $930 Dip

BNBUSD pared most of its gains once gain after hitting a fresh all-time high. It hit an intraday low of $1144 and is currently trading around $1182.

 

Oscillators and moving averages to forecast the trend of  BNBUSD

 

CMP- $1180.8

 

EMA (4-hour chart)

 

55-EMA- $1215

 

200-EMA- $1087.50

365-EMA- $1001.70. The pair trades above both short-term and long-term moving averages.

 

Major support - $1130. Any breach below $1130 will drag the pair down to $1086/$1044/$985/$930.

 

Major Resistance - $1200.  Any break above $1200  confirms minor bullishness; a jump to $1250/$1300/$1376/$1400/$1500 is possible.

 

Indicators (4-hour chart)

 

CCI(50)- Bearish

 

ADX- Neutral

 Investment Strategy for BNBUSD

It is good to buy on dips around $1130 with a stop loss around $1100 for target profits of $1300/$1350.

 

 

 

 

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