BNB Price Recovery Hangs in the Balance: A Possible Ceiling Clooms

Bearish BNB pricing below $600. The price must break $575 and $585 barrier to become positive.

BNB price fell after failing to break $600 barrier.

Price is below $585 and 100 SMA.

The hourly BNB/USD data shows a negative trend line with resistance around $575.

The pair may gather impetus if it breaks $585 resistance.

BNB Falls Again

BNB pricing languished at $600 after a good gain. Below $585, Ethereum and Bitcoin fell.

Price fell below $575 and the 100-sMA (4 hours). The stock dropped to $561 and is consolidating losses. Minor gains occurred over $565. Price challenged the 23.6% Fib retracement level of the $600 swing high to $561 low decline.

It's below $585 and the 4-hour SMA. Around $575 is immediate resistance. On the BNB/USD hourly chart, a negative trend line with resistance around $575 is forming.

The next resistance level is $585, the 61.8% Fib retracement of the decline from the $600 swing high to the $561 low. A break over $585 might boost prices.

BNB might reach $600 in this situation. Close over $600 might lay the stage for a stronger move toward $650. If gains continue, $680 may be tested in the coming days.

Lost More?

BNB might fall if it fails to break $575 resistance. Near $560 is first downside support.

Support near $550 is next. Main support is $532. A breakdown below $532 might send the price to $510. Losses might cause a bigger drop near $500. #Memecoins #altcoins $BNB #BNB #BinanceLaunchpool