According to CoinMarketCap, the overall cryptocurrency market is continuing to decline. The price of Binance Coin (BNB) has remained unchanged since yesterday. On the hourly chart, BNB has fallen below the local support level of $616.85 and may test the crucial area of $600 by tomorrow if the decline continues. Despite a bullish closure yesterday, the bigger time frame shows that bulls have been unable to maintain growth. If the trend persists, there is a possibility of a further drop to the $550-$575 range in the near future. Long-term predictions are uncertain at this point, but if the bar closes near its low with no long wick, it is likely that the correction will continue towards the $500 mark. Currently, BNB is trading at $614.82.



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