FxWirePro- BNBUSD Trade Idea

Key Level to Monitor: $660

BNB/USD pair lost its shine after forming a minor top of $732.  It hit an intraday low of $630 and is currently trading around $651.75.

Overall bias remains bullish as long as support of $500 holds. It trades above the 34 and 55 EMA on the 4-hour chart. If the pair closes below $590, potentially leading to further declines towards $580/$550/$500.

Immediate Resistance is at $730. 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: Neutral
   
• CCI (50): Bearish

Trading Strategy

Consider buying on dips around $630 with a stop-loss set at $590 and a target price of $1000.