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Will BNB reverse its long downtrend?

BYBIT:BNBUSDT   BNBUSDT Perpetual Contract
Hello everyone, let's take a look at the BNB to USDT chart on a 1 day time frame. As we can see, we have been moving in the downtrend channel for a long time, while locally we are in the upward trend and in a place where we can try to break out of the long-lasting 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 $ 293, if the support breaks down, the next support is $ 271 and $ 254.

Now let's move from the resistance line, as you can see, the first resistance we are currently struggling with is $ 322 breaking the first resistance will give us a potential exit from the long downturn channel, if we can break it, the next resistance will be $ 354 and $ 400.

Looking at the CHOP indicator , we can see that in the 1-day interval most of the energy has been used, and the MACD indicator indicates that we are locally in an upward trend.

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