BNB nears $600 as it tests the path toward $610 resistance

The cryptocurrency BNB neared the $600 level on Wednesday, 5 August 2026 (14 Mordad 1405), after breaking out of its July trading range. According to Arzdigital, BNB has strengthened its short-term uptrend by clearing its 20-day and 50-day simple moving averages at $574 and $576, and now faces its 100-day moving average at $605.88 as the first serious resistance for buyers.

Derivatives trading volume for BNB jumped 56 percent to $719.9 million, while open interest in the derivatives market rose 4 percent to $985 million, pointing to new traders entering positions. Exchange liquidity heat maps show clusters of short positions concentrated around $612 and $616, while $592 is seen as the key support level for the uptrend to continue. The token's relative strength index has also moved close to the 70 overbought threshold.