BNB/USD Reclaims $800: Bullish Momentum Returns After Brief Dip

BNB/USD recovered above $800 after a minor sell-off below the 365-H MA. It hit a low of $766 yesterday and is currently trading around $808.

Short-term trend remains bullish as long as the support $698 holds. It trades above the 55 and 34, 200 and 365  EMA on the 1-hour chart. Near-term support is around $760, any close below targets $740/ $700/$670/$650/$644/$628/$598.  If the pair closes below $500, potentially lead to further declines towards $400.

Immediate Resistance is at $830.Any breakout above this resistance confirms bullish momentum and a jump towards $862/$900/$1000.

Indicators ( 1-hour Chart)

Directional Movement Index: Neutral

CCI (50):  Neutral

Trading Strategy

It is good to buy on dips around $780-82 with a stop-loss set at $740 and a target price of $1000