BNB/USDT 4HInterval Resistance and Support
Hello everyone, let's look at the BNB to USDT chart on a 4-hour time frame. As you can see, the price is moving above the local uptrend line, however, on the EMA Cross 10 and 30 we see an attempt to return to the downtrend.
Let's start with the support line and as you can see the first support in the near future is $309.7, if the support is broken then the next support is $305.6, $302.2 and $299.
Now let's move on to the resistance line, but here we will first mark the $313 to $315 resistance zone, then we have the second $317 to $319 resistance zone, then strong resistance at $321.2
Looking at the CHOP indicator, we see that the collected energy is used for the initiated price correction, the MACD indicates a transition to a local downtrend, while the RSI shows a rebound, however, there is room for the price to go lower.
Let's start with the support line and as you can see the first support in the near future is $309.7, if the support is broken then the next support is $305.6, $302.2 and $299.
Now let's move on to the resistance line, but here we will first mark the $313 to $315 resistance zone, then we have the second $317 to $319 resistance zone, then strong resistance at $321.2
Looking at the CHOP indicator, we see that the collected energy is used for the initiated price correction, the MACD indicates a transition to a local downtrend, while the RSI shows a rebound, however, there is room for the price to go lower.