Will BNB stay above the current support?
Hello everyone, let's take a look at the BNB to USDT chart over the 4 hour timeframe. As you can see, the price is moving below the local downtrend line.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 290, if the support breaks down, the next one is $ 277 and $ 266 and $ 255.
Now let's move from the resistance line as you can see the first resistance is $ 317, if you can break it the next resistance will be $ 339 and $ 371 and $ 414.
Looking at the CHOP indicator, we can see that in the 4-hour interval we have a lot of energy, but the MACD indicator shows that the blue line is under the red line, which may result in a downward trend.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 290, if the support breaks down, the next one is $ 277 and $ 266 and $ 255.
Now let's move from the resistance line as you can see the first resistance is $ 317, if you can break it the next resistance will be $ 339 and $ 371 and $ 414.
Looking at the CHOP indicator, we can see that in the 4-hour interval we have a lot of energy, but the MACD indicator shows that the blue line is under the red line, which may result in a downward trend.
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