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BNB Battle at $594: Will it Surge to $700 or Plunge to $543?

BNBUSDT Perpetual Contract (BYBIT:BNBUSDT.P)  
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BYBIT:BNBUSDT.P   BNBUSDT Perpetual Contract
Trend Analysis Beyond Technical Analysis binancecoin binance BNB BNBUSDT bnbusd bnbusdtlong BNBUSDTPERP binancecoinusd
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trendanalysis beyondta binancecoin binance bnb bnbusdt bnbusd bnbusdtlong bnbusdtperp binancecoinusd
The daily chart for BNB is maintaining strength, however it struggles to break $594, the key daily resistance.

A bullish break-out of this level is needed for Binance Coin to move towards $656 and higher towards $700 region.

A sustained price action below $594 could confirm weakness, potentially triggering a bearish momentum targeting $543, however price action will likely remain slow and choppy.
Commento:
The daily chart for BNB lacks the momentum and is lingering around $594.

A bullish Bitcoin can push BNB through this key daily resistance, however a reversal in BTC.D will be a game changer for Binance Coin and we will see the next bullish rally towards $700.

A n inability to break through $594 will lead to a weakness with a bearish momentum targeting $543.
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