BNBUSD Eyes $1000 Breakout as Bullish Trend Holds Above Key $742 Support

BNBUSD is consolidating in a narrow range between $881 and $831 after hitting a fresh all-time high.It hits an intraday high of $851.30 and is currently trading around $849.70.

Short-term trend remains bullish as long as support $742 (21 W 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 ( weekly Chart)

Directional Movement Index: Bullish

CCI (50):  Bullish

Trading Strategy

It is good to buy on dips around $780-82 with a stop-loss set at $740 and a target price of $1000.