BNB/USDT 4HInterval Resistance and Support
As the third, we will check the BNB chart on a four-hour interval. As we can see, the price is moving in the local downtrend channel marked with blue lines.
Let's start by marking the support spots for the price and we see that we first have support at $317.6, but if the price goes lower, we have another support at $313.7 and then at $308.5.
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 $320.7, then we have resistance at $323.2, then we can mark a strong resistance zone from $325 to $330, and then resistance at $333.
The CHOP index indicates that we have a lot of energy to move, MACD indicates the entry into a local downtrend, while the RSI shows a significant rebound, which creates room for future increases.
Let's start by marking the support spots for the price and we see that we first have support at $317.6, but if the price goes lower, we have another support at $313.7 and then at $308.5.
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 $320.7, then we have resistance at $323.2, then we can mark a strong resistance zone from $325 to $330, and then resistance at $333.
The CHOP index indicates that we have a lot of energy to move, MACD indicates the entry into a local downtrend, while the RSI shows a significant rebound, which creates room for future increases.