BNB / USDT 1D INTERVAL, Support and Resistance
I invite you to review the BNB to USDT chart on a 1-day interval.
Let's start by marking the sideways trend channel with white lines, which, as you can see, the price went down for a while, but quickly turned back and is currently staying in this channel.
Now let's move on to checking with the Fib Retracement tool what support the BNB price has in case of further declines and here we see that we first have support at $266, but if the price goes lower, we have further support at $229 and $183.
Now, in the same way, we will check what resistance we can expect when the price starts to rise and we see that the first resistance is at $292, the next resistance is $312, $329 and $346.
Please also look at the CHOP index which indicates that the energy is in consolidation, and the MACD indicator indicates that we are in a downtrend.
Let's start by marking the sideways trend channel with white lines, which, as you can see, the price went down for a while, but quickly turned back and is currently staying in this channel.
Now let's move on to checking with the Fib Retracement tool what support the BNB price has in case of further declines and here we see that we first have support at $266, but if the price goes lower, we have further support at $229 and $183.
Now, in the same way, we will check what resistance we can expect when the price starts to rise and we see that the first resistance is at $292, the next resistance is $312, $329 and $346.
Please also look at the CHOP index which indicates that the energy is in consolidation, and the MACD indicator indicates that we are in a downtrend.