BNB/USD Holds 55-4H EMA Support—Dip to $730 Could Launch $1,000 Rally

BNB/USD took support near 55- 4H EMA and showed a minor pullback. It hits an intraday low of $752.80  and is currently trading around $769.

Short-term trend remains bullish as long as the support $600 holds. It trades above the 55 and 34, 200 and 365  EMA on the 4-hour chart. Near-term support is around $750, any close below targets$730/ $700/$670/$650/$644/$628/$598/$570/$520.  If the pair closes below $500, potentially lead to further declines towards $400.

Immediate Resistance is at $780.Any breakout above this resistance confirms bullish momentum and a jump towards $810/$841/$1000.

Indicators ( 4-hour Chart)

Directional Movement Index: Neutral

CCI (50):  Bullish

Trading Strategy

It is good to buy on dips around $730 with a stop-loss set at $700 and a target price of $800/$1000.