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*BNB/USD took support near the trend line and showed a minor pullback.It hit a low of $6657 yesterday and is currently trading around $663.87.
Short-term trend remains bullish as long as support $640 holds. It trades above the 55 and 34,200 EMA on the 4-hour chart. Near-term support is around $640 (200- 4H EMA), and any breach below targets $630/$600/$570/$520. If the pair closes below $500, potentially leading to further declines towards $400.
Immediate Resistance is at $680.Any breakout above this resistance confirms bullish momentum and a jump could suggest bullish momentum, with further gains possible towards $700/$730/$800/$1000. Near-term resistance is around $680.
Indicators (4-Hour Chart)
- Directional Movement Index: Neutral
- CCI (50): Neutral
Trading Strategy
It is good to buy on dips around $665 with a stop-loss set at $630 and a target price of $800/$1000.
