BNBUSD pared some of its gains following the footsteps of Bitcoin. It hits an intraday low of $830 and is currently trading around $843.50.
Short-term trend remains bullish as long as support $770 (365-4H EMA) holds. It trades above the 55,200 and 365 EMA on the 4-hour chart. Near-term support is around $800; any close below targets $780/$755/$730/$700/$670/$650/$644/$628/$598. If the pair closes below $500, it potentially leads to further declines towards $400.
Immediate Resistance is at $900.Any breakout above this resistance confirms bullish momentum and a jump towards $943/$1000.
Indicators ( 4-hour Chart)
Directional Movement Index: Bearish
CCI (50): Bearish
Trading Strategy
It is good to buy on dips around $770 with a stop-loss set at $730 and a target price of $1000.
