BNB/USDT 1DReview Resistance an Support
Hello everyone, welcome to a review of the BNB vs. USDT pair, taking into account the one-day timeframe. First of all, using the blue lines, we can mark the sideways trend channel in which the price is currently approaching its upper limit.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark support, and here we will first mark the strong support zone from $234 to $228, however, if the price falls below this zone, we can see a drop to around $220.4.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we see that the price is moving towards the upper border of the channel, where we have a strong resistance zone from $244 to $250, only when we exit it upside, we can attack the resistance at $256.8.
Index CHOP indicates that there is still energy to continue this movement. The MACD indicator, despite corrections in the channel, maintains an upward trend. On the other hand, on the RSI we approached the middle of the range, despite everything we can see an attempt to attack the first resistance zone.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark support, and here we will first mark the strong support zone from $234 to $228, however, if the price falls below this zone, we can see a drop to around $220.4.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we see that the price is moving towards the upper border of the channel, where we have a strong resistance zone from $244 to $250, only when we exit it upside, we can attack the resistance at $256.8.
Index CHOP indicates that there is still energy to continue this movement. The MACD indicator, despite corrections in the channel, maintains an upward trend. On the other hand, on the RSI we approached the middle of the range, despite everything we can see an attempt to attack the first resistance zone.