I invite you to review BNB in a four-hour interval. As can be seen at the beginning, the price is again approaching the upper limit of the ongoing upward trend channel, which may limit the upward movement.
In this situation, we will deploy the trend based fib extension tool, thanks to which we can mark a very strong resistance zone from $402 to $411, which is the upper border of the channel, which again may be a big limitation for further growth, but if the price positively overcomes the resistance zone, further we can see a rapid increase to around $438.
Looking the other way, we can similarly identify support areas where the price could potentially end its recovery. And here we should take into account a small zone from $385 to $380, and then we can see how the price may return to the level of $369.
When we look at the RSI indicator, we can see that there is still room for growth, while the STOCH indicator again exceeds the upper limit, which previously resulted in the suspension of growth and recovery.
In this situation, we will deploy the trend based fib extension tool, thanks to which we can mark a very strong resistance zone from $402 to $411, which is the upper border of the channel, which again may be a big limitation for further growth, but if the price positively overcomes the resistance zone, further we can see a rapid increase to around $438.
Looking the other way, we can similarly identify support areas where the price could potentially end its recovery. And here we should take into account a small zone from $385 to $380, and then we can see how the price may return to the level of $369.
When we look at the RSI indicator, we can see that there is still room for growth, while the STOCH indicator again exceeds the upper limit, which previously resulted in the suspension of growth and recovery.