Krutika Adani
BNB has bounced off from a key support level at $565 and has been trading at $585 at press time.
The crypto had broken a key downtrend at $582. This breakout might prove helpful for the price as make the crypto bullish.
However, a minor resistance still remains at $590 after which the price might soon cross $600.
The crypto has been bullish as Binance sees the end of its troubles with the end of Changpeng Zhao’s prison sentence.
Backed by the Binance Exchange, BNB has been a blockchain with very cheap transaction costs which makes it a favourite blockchain for bridged assets.