BNB/USDT 4HInterval ShortTerm Resistance and Support
Hello everyone, let's look at the BNB to USDT chart on a 4-hour timeframe. As you can see, the price is moving below the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $309, if the support is broken then the next support is $306.1 and $302.1.
Now let's move to the resistance line, first we have a resistance zone from $312.3 to $314.4, then a second resistance zone from $316.2 to $317.9, a third resistance at $320.5, then a fourth resistance at $323.6.
Looking at the CHOP indicator, we see that the energy is starting to rise, the MACD confirms the local downtrend, while the RSI is moving in the lower part of the range, which may indicate an upcoming price increase.
Let's start with the support line and as you can see the first support in the near future is $309, if the support is broken then the next support is $306.1 and $302.1.
Now let's move to the resistance line, first we have a resistance zone from $312.3 to $314.4, then a second resistance zone from $316.2 to $317.9, a third resistance at $320.5, then a fourth resistance at $323.6.
Looking at the CHOP indicator, we see that the energy is starting to rise, the MACD confirms the local downtrend, while the RSI is moving in the lower part of the range, which may indicate an upcoming price increase.