BNBUSD Surges Past $870: Bullish Momentum Eyes $1000 Target

BNBUSD recovered after forming a minor bottom around $839.50. It hits an intraday high of $886 and is currently trading around $874.

Short-term trend remains bullish as long as support $800 (365 4H EMA) holds. It trades above the 55,200 and 365  EMA on the weekly chart. Near-term support is around $830; any close below targets  $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: Bullish

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.