Key Level to Monitor: $800
BNB/USD pair showed a false breakdown below 200 - 4H EMA recovered more than $50. It hit a fresh all-time high $793 and is currently trading around $691.
Overall bias remains bullish as long as support $640 holds. It trades above the 34 and 55 EMA on the 4-hour chart. If the pair closes below $680, potentially leads to further declines towards $660/$640/$600.
Immediate Resistance is at $725. A successful breakout above this resistance could suggest bullish momentum, with further gains possible towards $775/$812/$848/$1000.
Indicators (4-Hour Chart)
- Directional Movement Index: Bullish
- CCI (50): Bullish
Trading Strategy
Consider buying on dips around $680, with a stop-loss set at $640 and a target price of $1000.
