BNB/USDT - Resistance and Support - 4H Interval
Hello everyone, welcome to a chart review of BNB vs USDT on a four-hour time frame. First, we will use the yellow lines to mark the triangle in which the price is moving.
Moving on, we can move on to marking support areas when we start a larger correction. And here, first of all, we have a support zone from $311 to $305, when the price goes lower, we have another support at $300, and then around $292.
Looking the other way, we see that the price is fighting a strong resistance at $ 317, which so far it has no strength to break. However, if it manages to break out higher, the next resistance will appear at $326, and then at $338.
Please look at the CHOP index, which indicates that we have a lot of energy for the upcoming move, MACD indicates that we are moving in a downtrend, while the RSI shows a rebound, which may positively affect the price increase.
Moving on, we can move on to marking support areas when we start a larger correction. And here, first of all, we have a support zone from $311 to $305, when the price goes lower, we have another support at $300, and then around $292.
Looking the other way, we see that the price is fighting a strong resistance at $ 317, which so far it has no strength to break. However, if it manages to break out higher, the next resistance will appear at $326, and then at $338.
Please look at the CHOP index, which indicates that we have a lot of energy for the upcoming move, MACD indicates that we are moving in a downtrend, while the RSI shows a rebound, which may positively affect the price increase.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.