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Can BNB/USD Reach $1000? Bulls Defend Trendline Amid Consolidation

*BNB/USD took support near the trend line and showed a minor pullback.It hit a low of $6657 yesterday and is currently trading around $663.87.

Short-term trend remains bullish as long as support $640 holds. It trades above the 55 and 34,200 EMA on the 4-hour chart. Near-term support is around $640 (200- 4H EMA), and any breach below targets $630/$600/$570/$520.  If the pair closes below $500, potentially leading to further declines towards $400.

Immediate Resistance is at $680.Any breakout above this resistance confirms bullish momentum and a jump could suggest bullish momentum, with further gains possible towards $700/$730/$800/$1000. Near-term resistance is around  $680.

Indicators (4-Hour Chart)

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

Trading Strategy

It is good to buy on dips around $665 with a stop-loss set at $630 and a target price of $800/$1000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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