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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/binance-coin-faces-challenges-in-surpassing-600/" data-wpel-link="internal">Binance Coin Faces Challenges in Surpassing $600</a><br></p>
<p style="text-align: justify">Due to recent fluctuations in the cryptocurrency <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a>, <a href="https://en.coin-turk.com/bnb-coin-surges-beyond-expectations/" data-wpel-link="internal">Binance Coin</a> (BNB) <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> has entered a noticeable downtrend below the $600 level. Especially as other major cryptocurrencies like Ethereum and Bitcoin have also experienced declines during this period, BNB has joined this trend by falling below the $585 support level.</p> 
<h2 style="text-align: justify" id="bnb-price-struggles-to-surpass-600">BNB Price Struggles to Surpass $600</h2> 
<p style="text-align: justify">BNB price recently failed to surpass the $600 resistance zone, entering a new downtrend. Currently, the price is observed to be trading below $585. This situation serves as an important indicator to evaluate the current market condition and the potential short-term price movements.</p> 
<p style="text-align: justify">When analyzing the chart, a significant downtrend line around $575 has become apparent on the hourly chart of the BNB/USD pair. This indicates that the price is encountering resistance at these levels and is under downward pressure.</p> 
<p style="text-align: justify">Currently, the price trading below $585 presents a negative short-term outlook. However, if the price surpasses the resistance near the $575 level, it could gain upward momentum.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-351550 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/bnb-coin.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">Another determining factor for the <a href="https://newslinker.co/" data-wpel-link="exclude">future</a> is surpassing the $600 resistance and maintaining a stable movement above this level. In this case, a larger upward momentum towards the $650 resistance can be expected. However, if the price surpasses these levels, it may need to test the $680 level.</p> 
<h2 style="text-align: justify" id="what-do-technical-indicators-say">What Do Technical Indicators Say?</h2> 
<p style="text-align: justify">Looking at the current situation, the four-hour MACD indicator on the BNB/USD pair is losing speed in the bearish zone. Similarly, the four-hour RSI (Relative Strength Index) is also below the 50 level. These indicators point to potential short-term declines in the value of Binance Coin.</p> 
<p style="text-align: justify">The first support level on the downside for the BNB/USD pair is around $560. If this level breaks downward, the next significant support is near the $550 level. However, the most crucial support level is at $532.</p> 
<p style="text-align: justify">A break below this level could signal the start of a larger downtrend for Binance Coin. In this case, the price is expected to retreat to the $510 support level. Worse, a larger decline towards the $500 level could begin. Looking at resistance levels, the $575 resistance is a significant obstacle. If this level is surpassed, the $585 and $600 levels can be seen as resistance.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/binance-coin-faces-challenges-in-surpassing-600/" data-wpel-link="internal">Binance Coin Faces Challenges in Surpassing $600</a></h5>

Binance Coin Faces Challenges in Surpassing $600

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