BNB/USD Consolidates: Gearing Up for the Next Big Move?

BNB/USD  consolidates in a narrow range after a minor pullback.  It hits an intraday high of $647 and is currently trading around $645.10.

Short term trend remains bullish as long as support $598 holds. It trades above the 55 and 34, 200 and 365  EMA on the 4- hour chart. Near-term support  is around $628 (200- EMA) , any close below targets $598/$570/$520.  If the pair closes below $500, potentially leading to further declines towards $400.

Immediate Resistance is at $660.Any breakout above this resistance confirms bullish momentum and a jump to could suggest bullish momentum, with further gains possible towards $669/$680/$730/$800/$1000. Near-term resistance is around  $680.

Indicators (daily Chart)

1. Directional Movement Index: Neutral
2. CCI (50):  Bullish

Trading Strategy

It is good to buy on dips around $625 with a stop-loss set at $595 and a target price of $800/$1000.