BNB Price Breaks Above $575 but Fails to Clear $600

BNB price has broken above $575 on the 4-hour chart and reached an intraday high near $595 before easing to approximately $590. This move carried the token out of a narrow range that controlled trading during the second half of July.

The breakout is stronger than previous tests, which were unable to sustain a move above $600. However, BNB must close above $600 to confirm that the wider consolidation has ended.

According to analysts, technical positioning appears to be the immediate driver behind the move. BNB broke above a descending resistance line that had connected lower highs since trading near $632 in mid-June.