BNB/USD Surges Above $1000 with Bullish ZLR Pattern: Targets $1100

Chart Pattern- Zero line reject (ZLR)  in 4-hour chart

BNBUSD trades above $1000 after taking support near 38.2% fib. It hits an intraday low of $963 and is currently trading around $991.30.

Short-term trend remains bullish as long as support $860 (365 4H EMA) holds. It trades above the 55,200 and 365  EMA on the 4-hour chart. Near-term support is around $960; any close below targets  $940/$928/$900/$865/$845/$810/$780/$755/$740.  If the pair closes below $500, it potentially leads to further declines towards $400.

Immediate Resistance is at $1014.Any breakout above this resistance confirms bullish momentum and a jump towards $1100/$1150.

Indicators ( 4-Hour Chart)

Directional Movement Index: Bullish

CCI (50):  Bullish

Trading Strategy

It is good to buy on dips around $980 with a stop-loss set at $940 and a target price of $1100.