BNB/USDT 1HInterval CHart Review

Hello, I invite you to review the current situation of BNB in pair with USDT, taking into account the one-hour interval. Let's start by identifying the local uptrend channel using the blue lines.

Let's start by determining support, and here, after using the trend based fib extension tool, you can see how the price approached the support at $410, and then it is worth defining the support zone from $395 to $387.

Looking the other way, you can see that the level of $427 still remains a strong resistance, but the price may increase further to around $449.

The RSI indicator shows that we have crossed the support line below, which may result in a further decline, and the STOCH indicator shows that we are moving at the lower limit, but with the possibility of a continuation of the correction.