BNB may fall to $574: Here are the reasons

On June 6, BNB reached an all-time high of $720.67 and then fell back, falling below $626 on the 10th.

Since then, BNB has been fluctuating in a narrow range, forming a horizontal channel.

Currently, bears form resistance at $635, while bulls defend the $591 support level.

The DMI indicator shows that bears are dominant, with the negative direction index higher than the positive direction index.

The Aroon Down Line value is 85.71%, indicating a strong downward trend in the market.

Key momentum indicators such as RSI and MFI show that traders tend to sell BNB.

If bulls regain control, it may push BNB to rebound to $609.

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