I see a bounce happening for this pair, BNXUSDT. As long as it trades above 'support' the pair is bullish and we can expect higher prices. Notice how back in June when 'support 1' was hit what followed was bullish action. The second time we have a lower low on low bearish volume, so the potential is high for an inverted correction or even the resumption of the bullish trend.
I wouldn't call the resumption of the bullish trend here because of the strong rise that happened recently, but the minimum would be a price-bounce (inverted correction). Later, depending how it develops we can consider what will happen next.
A recovery can happen here but it can be mid-term and then a retrace which will challenge 'support' again. This retrace can end in a lower low or higher low and this won't change the fact that it will be followed by consolidation and maximum growth.
So we get up, down, up-up-up.
This chart looks very similar to BNXBTC. They are both bullish.
Namaste.
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