BNB/USDT 1DAY CHART UPDATE !!Focusing on long setups, here is the daily chart of Binance Coin (BNB) against Tether (USDT). Here is the interpretation:
The chart shows a horizontal support line near the $461 mark, which has been tested multiple times. This area is crucial for maintaining the overall uptrend.
An ascending trendline starting from prior lower levels is shown, providing additional support and reinforcing the bullish bias if BNB stays above this line.
The green line outlines a potential path where BNB could fall slightly, possibly towards support near $461, before bouncing back. The projected move suggests that a significant rally could follow if the support holds.
Potential resistance levels are visible around $535 and further up, where the price could face challenges.
The outlook remains bullish if BNB can maintain support above the ascending trendline and key horizontal support, targeting higher targets as indicated by the projected path.
Overall, the chart suggests a bullish long-term outlook for BNB if it continues to respect key support levels and the ascending trendline. A possible initial pullback before a strong upward move is possible.
Note: This is not financial advice. Stay tuned for further updates and analysis. Thank you!
