Binance Coin (BNB) approaches $600 resistance as bullish momentum builds

Binance Coin (BNB) was trading around $593 on August 5, 2026, up about 0.5% in the previous day and roughly 4% over the past week. Analysts note the token is nearing the $600 psychological barrier, with key resistance zones identified between $600‑$605 and a larger cluster of short‑liquidation risk above $605‑$610.

Technical indicators show a 20‑day EMA at $579, a 50‑day EMA at $583 and a 100‑day EMA at $603, indicating short‑term momentum improvement but a still‑bearish broader trend. The RSI sits at 59.3, above its moving average. Network activity on the BNB Chain has risen to about 30% utilization, supporting demand for the token. The recent quarterly burn removed 1.62 million BNB, leaving total supply near 133.17 million.