BNB’s Bullish Surge: Analysts Predict a Target of $1,000

Key Level to Monitor: $640

BNB/USD pair jumped more than $60  following the footsteps of Bitcoin.It hit an intraday high of $725.80 and is currently trading around $725.70.

Overall bias remains bullish as long as support $640 holds. It trades above the 34 and 55 EMA on the 4-hour chart. If the pair closes below $640, potentially leading to further declines towards $580/$550.

Immediate Resistance is at $750. A successful breakout above this resistance could suggest bullish momentum, with further gains possible towards $775/$812/$848/$1000.

Indicators (4-Hour Chart)

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

Trading Strategy

Consider buying on dips around $700, with a stop-loss set at $640 and a target price of $1000.