BNB on Fire: Bulls Eye $1,000 as Altcoin Surge Gains Steam

BNB/USD jumped more than $100 in the past week as the altcoin season begins. It hits an intraday high of $765 and is currently trading around $762.85.

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 daily chart. Near-term support is around $740; any close below targets $ 700, $670, $650, $644, $628, $598, $570, or $520.  If the pair closes below $500, potentially lead to further declines towards $400.

Immediate Resistance is at $770.Any breakout above this resistance confirms bullish momentum and a jump towards $800/$1000.

Indicators ( daily Chart)

Directional Movement Index: Bullish

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.