BNB / USDT 1D INTERVAL, Support and Resistance
Hello everyone, I invite you to review the BNB to USDT chart also on a one-day timeframe. Let's start by marking with the blue lines the sideways trend channel and with the yellow line the local downtrend line under which the price is currently moving.
Now with the help of Fib Retracement we can check the support places for BNB, and here we have the first support at the price of $ 276, the second at the price of $ 264, the third at the price of $ 250, just below the lower border of the channel, but if the price goes lower, we can see it even around $208.
Looking the other way, we can mark the resistance points for the price in the same way and as you can see, we have the first resistance at $285, the second at $307, the third at $324 and the fourth at $342 which is also above the upper limit of the current channel.
Now take a look at the CHOP index which indicates we still have a lot of energy for the next move, the MACD indicator indicates that we are in a downtrend, while the RSI shows that we are below halfway but that does not mean we will not see a major price correction.
Now with the help of Fib Retracement we can check the support places for BNB, and here we have the first support at the price of $ 276, the second at the price of $ 264, the third at the price of $ 250, just below the lower border of the channel, but if the price goes lower, we can see it even around $208.
Looking the other way, we can mark the resistance points for the price in the same way and as you can see, we have the first resistance at $285, the second at $307, the third at $324 and the fourth at $342 which is also above the upper limit of the current channel.
Now take a look at the CHOP index which indicates we still have a lot of energy for the next move, the MACD indicator indicates that we are in a downtrend, while the RSI shows that we are below halfway but that does not mean we will not see a major price correction.
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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.