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BNB price is struggling to stay above the $550 support zone. The price could start a fresh increase if it clears the $560 resistance zone.
BNB price started a fresh decline from the $592 resistance zone.
The price is now trading below $565 and the 100-hourly simple moving average.
There is a connecting bearish trend line forming with resistance at $560 on the hourly chart of the BNB/USD pair (data source from Binance).
The pair could gain bullish momentum if it clears the $560-$562 resistance zone.
BNB Price Eyes Recovery
After struggling to test the $600 resistance, BNB price started a fresh decline like Ethereum and Bitcoin. The price declined below the $585 and $572 support levels. There was also a move below $560.
Finally, the price found support at $548. A low was formed at $547 and the price is now consolidating losses. There is also a connecting bearish trend line forming with resistance at $560 on the hourly chart of the BNB/USD pair.
The pair is now trading below

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