BNBUSD has been consolidating in a narrow range between $881 and $831 for the past week. It hits an intraday high of $868 and is currently trading around $854.30.
Short-term trend remains bullish as long as support $788 (365-4H EMA) holds. It trades above the 55,200 and 365 EMA on the 4-hour chart. Near-term support is around $830; any close below targets $800/$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: Neutral
CCI (50): Bearish
Trading Strategy
It is good to buy on dips around $830 with a stop-loss set at $780 and a target price of $1000.
