$BNB /USDT Market Update

Current Price: $553.6 (-3.77%)

BNB has seen a decline after reaching a high of $578.9, with the price now testing the support zone around $550.2.

Resistance: The immediate resistance level is at $556.9, with a stronger resistance at $565.5. A move above these levels could lead to a recovery towards $570 and higher.

Support: Key support lies at $550.2. A break below this could see further downside towards $540 and $530.

Trading Strategy:

- Long Trade: Consider entering above $556.9, targeting $565 and $570 with a tight stop-loss below $550.

- Short Trade: Enter below $550, targeting $540 and $530 with a stop-loss above $560.

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