Hello everyone, let's look at the BNB to USDT chart on a 4-hour timeframe. As you can see, the price is above the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $240.3, if the support is broken then the next support is $237.8, $235.7 and $233.6.
Now let's move on to the resistance line, as you can see the first resistance the price is fighting is $243.8, if it manages to break it, the next resistance will be $246.4, $248.6 and $250.8.
Looking at the CHOP indicator, we see that there is still energy for the move, the MACD remains in a downtrend, while the RSI is in the middle of the range, which may indicate a temporary sideways trend.
Let's start with the support line and as you can see the first support in the near future is $240.3, if the support is broken then the next support is $237.8, $235.7 and $233.6.
Now let's move on to the resistance line, as you can see the first resistance the price is fighting is $243.8, if it manages to break it, the next resistance will be $246.4, $248.6 and $250.8.
Looking at the CHOP indicator, we see that there is still energy for the move, the MACD remains in a downtrend, while the RSI is in the middle of the range, which may indicate a temporary sideways trend.