BNB/USD is consolidating in a narrow range between $645.30 and $605 for the past one week. It hit an intraday low of $631 and is currently trading around $632.30.
Overall bias remains bullish as long as support $500 holds. It trades above the 34 and 55 EMA on the 4-hour chart. If the pair closes below $500, potentially leading to further declines towards $400.
Immediate Resistance is at $645. A successful breakout above this resistance could suggest bullish momentum, with further gains possible towards $678/$700/$730.
Indicators (4-Hour Chart)
- Directional Movement Index: Neutral
- CCI (50): Bullish
Trading Strategy
It is good to buy above $645 with a stop-loss set at $600 and a target price of $730.
