BNB Surges Past $600: Can Bulls Push to $635 This Week?

BNB reclaims $600 as momentum improves

BNB pushed above the psychological 600 USD level on Aug 10, trading near 605 after reclaiming short-term technical support. The move signals growing buying interest and raises the probability of another squeeze on leveraged short positions if bulls can sustain higher closes. While the recovery is constructive, follow-through remains reliant on rising volume and the ability to clear nearby resistance clusters.

BNB price daily chart — Aug. 10 

Technical backdrop: moving averages, RSI and Supertrend

Daily indicators show a healthier bid for Binance Coin after the late June low near 540 USD. BNB has gained roughly 12 percent since that bottom, and buyers have pushed price back above the 20-day and 50-day moving averages, which currently sit in the mid 500s. Those moving averages now act as immediate support and help define risk for shorter‑term traders.

The daily Relative Strength Index climbed toward the mid 60s, signaling stronger demand without entering a clearly overbought state. An RSI below 70 suggests there is room for additional upside, but the indicator is close enough to warrant caution as resistance is tested.

On the 4-hour frame, the Supertrend indicator flipped bullish in late July and continues to track price higher, with the Supertrend line around 593.86 USD. The MACD remains in positive territory, though its histogram has narrowed, indicating momentum is tapering while BNB encounters supply overhead.

BNB price 4-hour chart — Aug. 10 

Why volume matters

The latest leg higher looks largely technical so far, with price reclaiming key averages but without a clear surge in trading volume. In crypto markets, rallies that lack growing participation can stall at successive resistance lines. For BNB to convert the current bounce into a sustainable move, volume needs to increase alongside price, confirming demand from spot and derivatives participants.

Resistance levels and liquidation clusters

Immediate resistance is concentrated between 606 and 610 USD, a zone that has produced repeated intraday rejections. A firm 4-hour and daily close above 610 would remove some short-term overhead supply and open the path to a notable cluster of short liquidations around 618 to 623 USD.

BNB liquidation heatmap 

Three-day liquidation maps indicate a heavy concentration of leveraged short exposure near 622 to 623 USD. If BNB breaks the 610 threshold with rising volume, forced short-covering could accelerate the rally into that cluster and potentially toward the broader resistance band from about 628 to 635 USD. The 200-day moving average lies near 628.5 USD and represents the next major daily barrier.

Downside liquidity and invalidation levels

On the downside, the nearest liquidity pool sits just below 600 at roughly 598 USD, a level that may attract sellers or trigger stop orders during a pullback. The Supertrend near 593.86 is the short-term support to watch. A breach below that line would weaken the 4-hour bullish structure and expose the 20-day moving average around 583.5 USD. A deeper invalidation for the current recovery would be a sustained drop beneath the 50-day average close to 575.5 USD.

Scenario analysis: short squeeze vs range bound

Bull case: BNB holds above 600, secures a decisive close above 610, and benefits from rising trading volume. That setup would likely trigger short squeezes into the 618 to 623 liquidation cluster and aim for the 628 to 635 zone. Clearing 635 with conviction would renew attention on the previous long-term uptrend and targets higher up the curve.

Bear case: The rally stalls without meaningful volume. Repeated rejections between 605 and 610 keep price range bound and leave downside liquidity vulnerable. Failure to defend the Supertrend and 598 would increase the risk of a deeper pullback toward the 20- and 50-day averages, where sellers could regain control.

Analyst outlook and longer-term targets

Some market commentators view the rebound as an intermediate corrective phase inside a broader retracement that began after BNB lost a longer-term uptrend around 673 earlier this year. Analysts who map multi-week price action highlight a multi-step path to higher targets, noting that reclaiming the 628 to 635 resistance band is required before any credible attack on the prior trend area near 673 and then potential retests of 780 to 790 USD in a longer time frame.

A number of analysts also warn that a price advance without volume expansion is less likely to sustain through successive resistance layers, underscoring the importance of derivative flows and margin-driven liquidations in driving short-term accelerations.

Macro and exchange-specific risks

BNB remains sensitive to broader crypto market dynamics, including moves in Bitcoin and Ethereum, and to macro drivers such as US rate outlook, Treasury yields and dollar strength. Those factors can suppress or amplify risk appetite across crypto assets.

Additionally, BNB carries exchange exposure tied to the Binance ecosystem. Liquidity and availability can vary across regional trading venues, which means US-based traders may experience different spreads, custody limitations or execution conditions relative to global markets.

Key takeaways for traders and investors

- Short-term bias is constructive while price holds above the Supertrend near 593.86 USD and the 600 psychological level. - A confirmed break and close above 610 USD, accompanied by rising volume, would increase the odds of a move into the 618 to 623 liquidation cluster and then toward the 628 to 635 resistance band. - Failure to defend 598 USD exposes a sequence of moving averages that could push BNB back into a corrective phase. - Watch on-chain and derivatives signals, trading volume, and broader crypto market sentiment for clues on whether bulls can translate this recovery into a sustainable trend.

Traders should manage risk with clear stop levels and position sizing while monitoring liquidity concentrations that can produce rapid moves if leveraged positions are forced to close. The coming sessions will be crucial in determining whether BNB can convert the recent recovery into a renewed uptrend or remain trapped in a range between established support and overhead supply.