BNB Blasts Off: Eyes on $800 After Strong Bullish Breakout

BNB/USD gained sharply following the foot steps of BTC. It hits an high of $678.20 yesterday   and is currently trading around $661.08.

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

Immediate Resistance is at $680. A successful breakout above this resistance could suggest bullish momentum, with further gains possible towards $700/$730/$800/$1000.

Indicators (4-Hour Chart)

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

Trading Strategy

It is good to buy on dips around $640 with a stop-loss set at $570 and a target price of $800/$1000.