I invite you to review the BNB chart, on a one-hour interval. We will start by identifying the main uptrend line with the yellow line.
Moving on, we will move on to marking the places of resistance. And here, after unfolding the trend based fib extension grid, you can see how the price has currently bounced off the strong resistance at $374.5, which is located at the so-called golden point of 0.618 Fib. Looking further, when the price breaks above the current resistance, the important resistance level is around $393.
By looking the other way, we will designate supports. And here support is visible at the level of $361, and then the level around $352 should be kept in mind.
At this point, it is also worth determining the locally ongoing upward trend over which the price is staying.
If we look at the RSI indicator, we will see a recovery just before the upper limit, similar behavior can be observed on the STOCH indicator, and in both cases there is still room for a deeper recovery.
Moving on, we will move on to marking the places of resistance. And here, after unfolding the trend based fib extension grid, you can see how the price has currently bounced off the strong resistance at $374.5, which is located at the so-called golden point of 0.618 Fib. Looking further, when the price breaks above the current resistance, the important resistance level is around $393.
By looking the other way, we will designate supports. And here support is visible at the level of $361, and then the level around $352 should be kept in mind.
At this point, it is also worth determining the locally ongoing upward trend over which the price is staying.
If we look at the RSI indicator, we will see a recovery just before the upper limit, similar behavior can be observed on the STOCH indicator, and in both cases there is still room for a deeper recovery.