BNB/USDT 4HInterval ChartI invite you to review the chart of BNB in pair with USDT, also on a four-hour time frame. First, we will use the yellow line to determine the local downward trend under which the price is moving.
In order to determine the current supports for the BNB price, we will unfold the trend based fib extension grid, and we can see that the price is approaching a strong support zone from $247 to $239, however, if we break down from this zone, we can see the price return to the support area at $229.
Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here, first, there is strong resistance at the price of $255, then there is resistance at the level of $262 at the golden Fib point, and then the price has to face a strong resistance zone from $267 to $273.
Please look at the STOCH indicator, where we have a strong rebound and there is room for us to go a little lower, but moving near the lower border we can observe an attempt at a rebound and small increases.
And when we look at Ema cross 10 and 30, we can see that they do not yet indicate confirmation of a return to the downward trend.
