BNB Bulls Charge Above $850, Eyes $1,000 Breakout

BNBUSD holds above $850 following the steps of BTC.  It hit a high of $857.90 and is currently trading around $850.

Short-term trend remains bullish as long as support $730 holds. It trades above the 55 and 34 EMA, but below the 200 and 365 EMA on the 4-hour chart. Near-term support is around $800; any close below targets  $780/$755/$730/$700/$670/$650/$644/$628/$598.  If the pair closes below $500, it potentially leads to further declines towards $400.

Immediate Resistance is at $862.Any breakout above this resistance confirms bullish momentum and a jump towards $862/$900/$1000.

Indicators ( 4-hour Chart)

Directional Movement Index: Bullish

CCI (50):  Bullish

Trading Strategy

It is good to buy on dips around $800 with a stop-loss set at $740 and a target price of $1000.