BNB/USDT 1DInterval Chart
Hello everyone, I invite you to review the BNB chart. As we can see, after the announcement of the new lanchpad, the price with dynamic movements overcame a strong downward trend line. Also, when we turn on EMA Cross 50 and 200, we will see that the indicator confirms the return to a strong upward trend, now we need to watch whether we will maintain this trend.
After such a dynamic increase, it is worth spreading the Fib Retracement mesh to check the current resistance. And here you can see that the price is approaching a strong resistance zone from $320 to $352.
However, when the price starts to reverse, we can similarly determine support, and we can see the first significant support at the level of $271, and then we can see the price return to the strong support zone from $225 to $201.
The RSI indicator shows that we have exceeded the upper limit, which may result in a price recovery, and the situation on the STOCH indicator is similar, which may also result in a recovery. However, the CHOP index shows that this movement is running out of energy.
After such a dynamic increase, it is worth spreading the Fib Retracement mesh to check the current resistance. And here you can see that the price is approaching a strong resistance zone from $320 to $352.
However, when the price starts to reverse, we can similarly determine support, and we can see the first significant support at the level of $271, and then we can see the price return to the strong support zone from $225 to $201.
The RSI indicator shows that we have exceeded the upper limit, which may result in a price recovery, and the situation on the STOCH indicator is similar, which may also result in a recovery. However, the CHOP index shows that this movement is running out of energy.