BNB/USD Eyes $1100 After All-Time High: Buy the Dip at $940

BNBUSD is consolidating after hitting a fresh all-time high. It hit a high of $1006.90 and is currently trading around $991.30.

Short-term trend remains bullish as long as support $840 (365 4H EMA) holds. It trades above the 55,200 and 365  EMA on the 4-hour chart. Near-term support is around $980; any close below targets  $940/$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 $1014.Any breakout above this resistance confirms bullish momentum and a jump towards $1100/$1150.

Indicators ( 4-Hour Chart)

Directional Movement Index: Bullish

CCI (50):  Bullish

Trading Strategy

It is good to buy on dips around $940 with a stop-loss set at $880 and a target price of $1100.