BNB Faces Uphill Battle on $600
BNB price has faced multiple failed attempts to convert the resistance block between $575 and $619 into support.
So far, BNB has succeeded only once, making it difficult for the altcoin to achieve another breakout. This resistance continues to be a major hurdle, preventing the cryptocurrency from maintaining a sustained upward momentum.
BNB Faces Potential Downside
BNBâs overall momentum is showing mixed signals. Technical indicators such as the Moving Average Convergence Divergence (MACD) are suggesting that the uptrend is gradually fading. While BNB is likely to break the $550 resistance, it will face challenges to surpass the $580 level.
Despite some bullish movement, BNBâs momentum is not expected to hold above $580. The cryptocurrency has struggled to sustain gains above this level, and current indicators suggest that the pattern may repeat, hindering any significant upward move.
