BNB / USDT 1D INTERVAL, Support and Resistance
Hello everyone, welcome to the BNB to USDT chart review on a four-hour time frame. We will start by drawing the downtrend line that the price has broken above, then we can mark the local uptrend line with the yellow line.
Now let's move on to determine the support that the price has in case of declines, and here we can see that the first support is at $292.2, when the support is broken, the next support is at $278.4, the third support is at $267.5, then we have a strong support zone from $256 to $240.
Looking the other way, it is worth checking what resistances the BNB price has to overcome on its way, and in this situation we see that the price is struggling to break the first resistance at $307.5, when it breaks it we have resistance at $331.4, and then $361.8.
It is worth looking at the EMA Cross 10 and 30, because we can see that for a while we could see a change in the trend, but we quickly returned to the uptrend.
The CHOP index indicates that we have a lot of energy for the next move, the MACD indicates a local uptrend, while the RSI, after a correction, returned to the upper part of the range.
Now let's move on to determine the support that the price has in case of declines, and here we can see that the first support is at $292.2, when the support is broken, the next support is at $278.4, the third support is at $267.5, then we have a strong support zone from $256 to $240.
Looking the other way, it is worth checking what resistances the BNB price has to overcome on its way, and in this situation we see that the price is struggling to break the first resistance at $307.5, when it breaks it we have resistance at $331.4, and then $361.8.
It is worth looking at the EMA Cross 10 and 30, because we can see that for a while we could see a change in the trend, but we quickly returned to the uptrend.
The CHOP index indicates that we have a lot of energy for the next move, the MACD indicates a local uptrend, while the RSI, after a correction, returned to the upper part of the range.