$BNB experienced a drop below the immediate support level of $590 on June 18, though it held above the critical support at $560, indicating limited selling pressure at lower levels.
Currently, bulls are aiming to initiate a recovery and breach the moving averages. Successfully surpassing this hurdle could propel the BNB/USDT pair towards $617. This level holds significance, as a breakout above it would signal the end of the corrective phase, potentially paving the way for a push towards $722.
Conversely, a retreat from the overhead resistance might prompt bears to attempt pushing the pair below $560. Should they succeed, the next support levels to watch are around $536.
