BNB price breaks $600, can bulls trigger a rally to $635?

BNB price traded near $605 on Aug. 10 after reclaiming the psychological $600 level, with improving momentum and nearby liquidation clusters raising the prospect of another short squeeze. Summary BNB price traded at $605, slightly above its 100-day moving average near $604.85. Daily RSI climbed to 65.15, showing stronger demand without entering overbought territory. 4-hour Supertrend support rose to $593.86, making $594–$600 the key defense zone. Liquidation data shows concentrated short exposure around $618–$623, with downside liquidity near $598. BNB reclaims $600 after its July recovery According to data from crypto.news, BNB (BNB) price extended its recovery on Aug. 10, trading around $605 after reaching an intraday high near $606.84. The token has now moved above $600, a level that repeatedly limited gains during the previous sessions. The daily chart shows BNB recovering from a late-June low near $540. Buyers gradually returned through July before accelerating the move during the first 10 days of August. The price has gained roughly 12% from the June bottom and is attempting to establish a higher-high structure. BNB price daily chart — Aug. 10 | Source: crypto.newsMomentum has also improved. The daily Relative Strength Index rose to 65.15, above its signal average of 57.52. An RSI reading below 70 suggests that buying pressure is increasing, but BNB has not yet entered technically overbought territory. Still, the move has not produced a decisive breakout. BNB remains near a group of resistance levels between $605 and $610, where repeated intraday rejections show that sellers remain active. You might also like: BNB tops Grayscale Smart Contract Fund at 30.6% Moving averages support the rebound, but volume lags The latest advance appears primarily technical. BNB has reclaimed its 20-day and 50-day moving averages, currently positioned near $583.47 and $575.50, respectively. Both levels now sit below the market and could provide support during a pullback. BNB is also testing its 100-day moving average near $604.85. A sustained daily close above this line would strengthen the recovery case and shift attention toward the 200-day moving average at $628.51. The 4-hour chart supports the short-term bullish setup. BNB remains above the Supertrend indicator, which has moved up to $593.86. The indicator flipped bullish in late July and has continued to track the price higher. BNB price 4-hour chart — Aug. 10 | Source: crypto.newsThe Moving Average Convergence Divergence indicator remains positive, with the MACD line at 3.30 and the signal line at 3.13. However, the histogram has narrowed to 0.17, suggesting that upward momentum is slowing as BNB tests resistance. Thin follow-through therefore remains a risk. A lack of stronger buying volume could keep the token within its current range even if it continues to hold above $600.