BNB/USD Blasts Past Resistance—Is the Bull Run Just Getting Started?

BNB/USD  gained sharply as altcoin ETH gained momentum.  It hits an intraday high of $720.50 and is currently trading around $720.30.

The short-term trend remains bullish as long as support at $598 holds. It trades above the 55 and 34, 200 and 365  EMA on the 4-hour chart. Near-term support is around $670; any close below targets $650/$644/$628/$598/$570/$520.  If the pair closes below $500, potentially lead to further declines towards $400.

Immediate Resistance is at $730.Any breakout above this resistance confirms bullish momentum and a jump towards $762/$800/$1000.

Indicators (4-hour Chart)

Directional Movement Index: Bullish

CCI (50):  Bullish

Trading Strategy

It is good to buy on dips around $700 with a stop-loss set at $670 and a target price of $800/$1000.