Recovery from the support zone of $575 for BNB. The price consolidates its gains and could test $585 and $600.
BNB is trying to break the resistance of $580.
The price is below $585 and the 100-hour SMA.
On the hourly BNB/USD chart, a downward trend line connects the barrier of $585.
To increase soon, the pair must hold above $575.
Struggle of the BNB price
The price of BNB dropped after failing to break the barrier of $595. The price fell below $590 and $585, like Ethereum and Bitcoin.
The price has fallen to $576 and is trying to bounce back. The price has exceeded $580. The price has surpassed the 23.6% Fib retracement level from the peak of $594 to the drop from $576.
The price is below $585 and the 100-hour SMA. The price may find resistance at $585 upwards. On the hourly BNB/USD chart, a downward trend line connects the resistance at $585.
The next barrier is $588, the 61.8% Fib retracement level from the drop of the peak of $594 to the drop from $576. A decisive break above $588 could boost prices. In this situation, BNB could reach $595. A close above the resistance of $595 could lead to an increase above $600. Further gains could soon challenge $620.
Another drop?
BNB could drop again if it fails to break the resistance of $585. The downward support first has support at $580. Near $575 lies the next major support.
The major funding is at $562. The price could fall below $550 if it breaks below $562. Further losses could lead to a drop to $535.
Technical indicators
Hourly MACD - The MACD BNB/USD is declining in the positive zone.
Hourly RSI (Relative Strength Index): BNB/USD is below 50.
Major support levels: $580, $575.
Major resistance levels: $585, $595.
#BinanceAlphaAlert#PowellRemarks#TRUMP#VoteToDelistOnBinance
