BNB/USDT 1H Review

Hello everyone, let's look at the BNB to USDT chart on a one hour time frame. As you can see, the price is moving below the local downtrend line.

In order to mark the supports, we will use the trend based fib extension tool and we can see that we first have a support zone from $242.15 to $241.83, then support at $241.38, and then at $240.81.

Now let's move on to the resistances and here we will mark the first resistance zone from $242.66 to $242.90, then resistance at $243.23, next at $243.67, then strong resistance at $244.91.

Looking at the CHOP indicator, we see that there is a lot of energy to move, the RSI is moving in the lower part of the range, while the STOCH indicator indicates that the energy is exhausted in the current rebound.