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Intraday Outlook - Optimistic
Key Level to Monitor: $550
A closing price above $620 would suggest that the upward trend is likely to persist.
The BNB/USD pair took support near 55- day EMA and showed a minor pullback. Current momentum is neutral, with prices remaining above both the 34 and 55 EMA on the 4-hour chart. The pair should close above 620 for further bullishness. Conversely, a drop below $570 could indicate a bearish trend for the day. A breach of this level might lead to further declines toward $560, $550, $540, $528, $500, and potentially $470.
The immediate resistance is positioned around $620; breaking through this level may suggest some bullish momentum. Should prices exceed $620, there could be potential for further gains to $647 or even $700, with a possibility to reach $800 if it surpasses the $725 mark.
Indicators (4-hour chart)
Directional Movement Index: Bearish
CCI (50): Bearish
It may be wise to consider buying on pullbacks around $585, with a stop-loss placed at $550 and a target price of $700.
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