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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bnb-faces-resistance-at-600" rel="noopener noreferrer nofollow">BNB Faces Resistance at $600</a><br></p>
<p style="text-align: justify">In light of recent volatility within the cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">market</a>, <a href="https://en.bitcoinhaber.net/strategic-short-positions-in-crypto-timing-and-analysis-by-crypto-capo" rel="noopener noreferrer nofollow">Binance Coin</a> (BNB) has seen a significant drop below the $600 threshold. Following the broader downward trends of other major cryptocurrencies like Bitcoin and Ethereum, BNB also descended past the $585 support level, marking a bearish phase.</p>
<h2 id="bnb-price-struggles-to-surpass-600">BNB Price Struggles to Surpass $600</h2>
<p style="text-align: justify">Recently, BNB failed to break through the $600 resistance zone, initiating a new downtrend. Currently, the coin’s <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">price</a> is trading below $585, reflecting the broader market’s status and hinting at possible short-term price movements.</p>
<p style="text-align: justify">A crucial downtrend line around $575 has emerged on the hourly chart of the BNB/USD pair, indicating that the price is facing resistance at these levels and experiencing downward pressure.</p>
<h2 id="what-do-technical-indicators-say">What Do Technical Indicators Say?</h2>
<p style="text-align: justify">The four-hour MACD indicator for the BNB/USD pair shows a loss of momentum in the bearish zone. Similarly, the four-hour RSI (Relative Strength Index) is below the 50 mark, suggesting potential short-term declines for Binance Coin.</p>
<h2 id="key-takeaways-for-traders">Key Takeaways for Traders</h2>
<ul>
 <li>Breaking below $560 could push BNB towards the $550 support level.</li>
 <li>The critical support level stands at $532; falling beneath this could trigger a larger downtrend, possibly to $510 or even $500.</li>
 <li>Resistance levels to watch include $575, $585, and the critical $600 mark.</li>
</ul>
<p style="text-align: justify">For a more optimistic outlook, BNB needs to surpass the $575 resistance to gain upward momentum, potentially targeting the $600 level and beyond.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bnb-faces-resistance-at-600" rel="noopener noreferrer nofollow">BNB Faces Resistance at $600</a></h5>

BNB Faces Resistance at $600

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