BNBUSD Rides Bitcoin’s Wave: Bullish Trend Intact Above $770 Support

BNBUSD pared some of its gains following the footsteps of Bitcoin. It hits an intraday low of $830 and is currently trading around $843.50.

Short-term trend remains bullish as long as support $770 (365-4H EMA) holds. It trades above the 55,200 and 365  EMA on the 4-hour chart. Near-term support is around $800; any close below targets  $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: Bearish

CCI (50):  Bearish

Trading Strategy

It is good to buy on dips around $770 with a stop-loss set at $730 and a target price of $1000.