Binance Coin hit $593.69 on Wednesday, August 5. Volume dropped 6.64% to $946.57 million, yet the weekly gain stands solid at 4.41%.
The coin has been building higher lows all week. Analyst Aman Sai sees $600 as the first real hurdle, with resistance scattered between $600 and $605. Below that, the $582-$585 zone offers support.
A confirmed four-hour close above $600 could trigger a run toward $615-$620, according to Sai. Without it, BNB likely retests the lower support before any fresh attempt. He flagged the next few candles as key for direction.
Another analyst, Cryptorphic, pinpointed a tighter resistance zone at $596-$598. Buyers have been forming higher lows, but this range has rejected several rallies before. A clean breakout above it opens the path toward $607-$614.
The 20-day EMA sits at $579.02, below the 50-day at $583.22, meaning short-term momentum is improving but no bullish crossover has formed yet. The 100-day EMA remains at $602.78, still above price. The 200-day EMA at $649.23 looms as major resistance. Overall structure stays bearish on the longer timeframe.
RSI stands at 59.33, above both its moving average of 51.04 and the neutral 50 level. This signals some strength, but it is not yet in overbought territory.
This analysis is informational only and not financial advice. Crypto markets remain volatile and unpredictable.
