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BNBUSD Eyes $1200: Technicals Fuel Optimistic Outlook

BNBUSD holds well above $1000 following the footsteps of BTC. It hits an intraday high of $1036.50 and is currently trading around $1029.10.

Oscillators and moving averages to forecast the trend of  BNBUSD

 

CMP- $1029.10

 

EMA (4-hour chart)

 

55-EMA- $993.10

 

200-EMA- $942.10


365-EMA- $892. The pair trades above short and long-term moving averages.

 

This week's low- $993.80 (Sep 30th low). Any breach below $990 will drag the pair down to $950/$930/$889/$870/$830.

 

Previous week high- $1036.30 (Sep 29th high).  Any break above $1036.50 confirms minor bullishness, a jump to $1051/$1087.10/$1100/$1130.

 

Indicators (4-hour chart)

 

CCI(50)- Bullish

ADX- above 20 showing bullish bias

Investment Strategy for BNBUSD

It is good to buy on dips around $980 with a stop loss around $930 for target profits of $1100.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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