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 on the edge of the uptrend line.
Let's start with setting the support line and as you can see, we have the first support at $318.6 at which the price rebounded, if the support is broken then the next support is $310.2, and then the third support is $299.3.
Now let's move on to the resistance line, as you can see the first resistance is $323.4, if you manage to break it, the next resistance will be $328.3, $332.5 and $336.7.
Looking at the CHOP indicator, we see that most of the energy has been used, the MACD indicates the continuation of the downward trend, while the RSI shows a strong rebound and we are approaching the lower limit, which may stop the declines.
Let's start with setting the support line and as you can see, we have the first support at $318.6 at which the price rebounded, if the support is broken then the next support is $310.2, and then the third support is $299.3.
Now let's move on to the resistance line, as you can see the first resistance is $323.4, if you manage to break it, the next resistance will be $328.3, $332.5 and $336.7.
Looking at the CHOP indicator, we see that most of the energy has been used, the MACD indicates the continuation of the downward trend, while the RSI shows a strong rebound and we are approaching the lower limit, which may stop the declines.