Hello everyone, I invite you to a quick review of the BNB to USDT pair chart, taking into account the four-hour interval. As we can see, the price has broken down from the upward trend line, and now we can see that a local downward trend channel has formed.
Please note how the price remained in the support zone from $589 to $576, if this support was broken, the support level is still visible at $556 and then around $523.
Looking the other way, there is a significant resistance zone from $601 to $606, then the price must go up through the resistance at $621, which will open the way towards $645.
When we look at the RSI indicator, we will see a movement in the side trend channel, where we have bounced off the lower border, while the STOCH indicator indicates a potential upward movement, the beginning of which is visible on the chart.
Please note how the price remained in the support zone from $589 to $576, if this support was broken, the support level is still visible at $556 and then around $523.
Looking the other way, there is a significant resistance zone from $601 to $606, then the price must go up through the resistance at $621, which will open the way towards $645.
When we look at the RSI indicator, we will see a movement in the side trend channel, where we have bounced off the lower border, while the STOCH indicator indicates a potential upward movement, the beginning of which is visible on the chart.