BNB price approached a key psychological barrier on Wednesday, August 5, 2026, as higher lows and improving momentum strengthened bullish expectations. However, multiple resistance zones and the broader bearish EMA structure continued to prevent confirmation of a sustained breakout. For traders watching the market structure rather than the headline level alone, the next confirmed close above resistance remains the signal that would matter most in the near term.

At the time of writing, Binance Coin (BNB) was trading at $593.69, up 0.47% over the past 24 hours. Trading volume fell 6.64% to $946.57 million. Over the past week, BNB has risen 4.41%, according to CoinMarketCap.

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How Bulls Could Push BNB Toward the $615–$620 Target

Crypto analyst Aman Sai said BNB was moving toward $600 after reclaiming key support, with bulls gaining momentum below the major psychological level. He identified resistance between $600 and $605 and support between $582 and $585.

According to Sai, a confirmed four-hour close above $600 could open the way toward $615–$620. If that does not happen, BNB could retest the $582–$585 support zone before attempting another breakout. He added that the next few candles could determine the token’s short-term direction.

Another analyst, Cryptorphic, identified a separate resistance zone between $596 and $598 after weeks of range-bound trading. The analyst said buyers have continued to form higher lows, but the same resistance area has previously rejected several rallies.

A clean breakout and close above that range could open the way toward $607 to $614. Until then, the analyst views it as a key decision area for BNB’s next move. Both projections indicate that BNB remains below the levels needed to confirm a breakout.

What EMA and RSI Indicators Show

According to TradingView data, the 20-day EMA stands at $579.02 and the 50-day EMA at $583.22. This setup points to improving short-term momentum, although the 20-day EMA remains below the 50-day EMA, meaning a bullish crossover has not yet formed.

BNB also remains below the 100-day EMA at $602.78 and the 200-day EMA at $649.23. Reclaiming the 100-day EMA could strengthen the recovery, while the 200-day EMA remains a major resistance level. Overall, the EMA structure continues to reflect a bearish broader trend.

The Relative Strength Index (RSI) stands at 59.33, above its moving average of 51.04 and above the neutral 50 level. That suggests strengthening bullish momentum. The RSI remains below the overbought threshold of 70 and above the oversold level of 30.

What Falling Futures Volume Signals for BNB Traders

According to CoinGlass data, BNB futures volume fell 17.14% to $417.35 million. Open interest also declined 0.05% to $950.80 million. The OI-weighted funding rate stood at 0.0064%.

Total liquidations reached $100,090 over the past 24 hours. Long liquidations accounted for $24,710, while short liquidations totaled $75,380. Shorts were about three times larger than longs as BNB’s price increased during the measured period, showing that leveraged positioning remained active even as trading activity eased.

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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.