The price of BNB (Binance Coin) recently experienced a correction after reaching the $612 level. Unlike Bitcoin and Ethereum, BNB dipped below the $600 support level. It also fell below the 23.6% Fib retracement level and is now trading below $595 and the 100-hourly simple moving average. If the price increases, it may encounter resistance at the $595 level or a bearish trend line at $595. The next major resistance is near $600, which, if broken, could lead to further gains and a potential test of $612. On the downside, initial support is at $590, followed by major support at $588 and $576. If the price breaks below $576, it could drop towards $565, with larger losses possibly pushing it to the $550 level. The technical indicators suggest a bearish trend, with the MACD in the bearish zone and the RSI below the 50 level.



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