BNB / USDT 1D INTERVAL, Support and Resistance
Hello everyone, welcome to a review of the BNB chart on a four-hour time frame. Let's start by marking with the yellow lines the uptrend channel from which the price went down.
Let's start by marking the support places for the price and we see that the first support is at $279, but if the price goes lower, we have another support at $266, then at $246 and another support at $220.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the first resistance is at $290, then we have a strong resistance zone from $308 to $331, and then the price will move towards $361.
The CHOP index indicates that the collected energy is used for the current correction, the MACD indicates entering a downtrend, while the RSI has a further rebound and is approaching the lower end of the range.
Let's start by marking the support places for the price and we see that the first support is at $279, but if the price goes lower, we have another support at $266, then at $246 and another support at $220.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the first resistance is at $290, then we have a strong resistance zone from $308 to $331, and then the price will move towards $361.
The CHOP index indicates that the collected energy is used for the current correction, the MACD indicates entering a downtrend, while the RSI has a further rebound and is approaching the lower end of the range.