BNB/USDT 4HInterval Resistance and Support
Hello everyone, welcome to a review of the BNB chart on a four-hour time frame. First of all, with the help of blue lines, we will mark the downtrend channel in which the price is currently moving.
Now let's move on to marking the support spots for the price and we see that we first have very strong support at the so-called golden point of the Fib Retracement at $265, but if the price goes lower, we have another support at $245.
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 $282, the second resistance is at $293, and then there is a strong resistance zone from $302 to $310.
The CHOP index indicates that the energy has been used, the MACD indicates the continuation of the downward trend, while the RSI has fallen below the lower limit of the range, which has now resulted in a temporary change in the trend.
Now let's move on to marking the support spots for the price and we see that we first have very strong support at the so-called golden point of the Fib Retracement at $265, but if the price goes lower, we have another support at $245.
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 $282, the second resistance is at $293, and then there is a strong resistance zone from $302 to $310.
The CHOP index indicates that the energy has been used, the MACD indicates the continuation of the downward trend, while the RSI has fallen below the lower limit of the range, which has now resulted in a temporary change in the trend.