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BNB/USD Eyes $700 Breakout: Path to $1000?

BNB/USD is consolidating after forming a minor top around $692.70. It hit an intraday high of $675.80   and is currently trading around $675.30.

Short term trend remains bullish as long as support $630 holds. It trades above the 55 and 34,200 EMA on the 4-hour chart. Near-term support  is around $630 , any breach below targets $600/$570/$520.  If the pair closes below $500, potentially leading to further declines towards $400.

Immediate Resistance is at $700. A successful breakout above this resistance could suggest bullish momentum, with further gains possible towards $730/$800/$1000.

Indicators (4-Hour Chart)

  • Directional Movement Index: Bullish
     
  • CCI (50): Bullish

Trading Strategy

It is good to buy on dips around $669 with a stop-loss set at $630 and a target price of $800/$1000.

  • Market Data
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