BNB/USDT 1DInterval Resistance and Support
Hello everyone, I invite you to review the BNB chart on a one-day interval. At the beginning, it is worth marking with blue lines the sideways trend channel in which the price is fighting to go up, while locally we can see that the downtrend channel has been defeated, despite the numerous fears that have appeared in recent days near the Binance exchange and its BNB coin.
Let's start by marking the support spots for the price and we see that we first have support at $310, but if the price goes lower, we have another support at $293, then at $279, and another support at $266, at 0.618 FIB.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price is currently testing resistance at $331, equal to 0.618 Fib. We continue to have strong resistance at $360, once the price breaks it, it will move towards resistance at $399.
When we look at the volume, we can see a definite predominance of green candles.
The CHOP index indicates that the energy has been used up, the MACD indicates that the uptrend is maintained, while the RSI has approached the upper limit of the range, which, combined with the exhausted energy on the CHOP, may give the price a rebound.
Let's start by marking the support spots for the price and we see that we first have support at $310, but if the price goes lower, we have another support at $293, then at $279, and another support at $266, at 0.618 FIB.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price is currently testing resistance at $331, equal to 0.618 Fib. We continue to have strong resistance at $360, once the price breaks it, it will move towards resistance at $399.
When we look at the volume, we can see a definite predominance of green candles.
The CHOP index indicates that the energy has been used up, the MACD indicates that the uptrend is maintained, while the RSI has approached the upper limit of the range, which, combined with the exhausted energy on the CHOP, may give the price a rebound.