BNBUSD Poised for Breakout: Will It Soar Past $900?

BNBUSD has been consolidating in an arrow range between $886 and $840 for the past four days. It hits an intraday high of $884.90 and is currently trading around $881.10.

Short-term trend remains bullish as long as support $805 (365 4H EMA) holds. It trades above the 55,200 and 365  EMA on the 4-hour chart. Near-term support is around $860; any close below targets  $830/$800/$780/$755/$740/$700/$670/$650/$644/$628/$598.  If the pair closes below $500, it potentially leads to further declines towards $400.

Immediate Resistance is at $900.Any breakout above this resistance confirms bullish momentum and a jump towards $943/$1000.

Indicators ( 4-Hour Chart)

Directional Movement Index: Neutral

CCI (50):  Bullish

Trading Strategy

It is good to buy on dips around $868-70 with a stop-loss set at $830 and a target price of $1000.