BNB/USD Bounces Above $1000 with Bullish Momentum Intact, Eyes $1200 Target

BNBUSD found support around the 55-4H EMA and had a modest pullback above $1000. It is now trading around $1005.70 after reaching an intraday high of $1014.

Short-term trend remains bullish as long as support $872 (365 4H EMA) holds. It trades above the 55,200 and 365  EMA on the 4-hour chart. Near-term support is around $985; any close below targets  $960/$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 $1035.Any breakout above this resistance confirms bullish momentum and a jump towards $1050/$1100/$1150/$1200.

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 $930 and a target price of $1150/$1200