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. The move follows a gradual recovery from a late-June low around $540, and the token has now gained roughly 12% from that bottom.
The daily chart shows BNB testing its 100-day moving average near $604.85, while the RSI climbed to 65.15 — signaling stronger demand without entering overbought territory. On the 4-hour timeframe, the Supertrend indicator has risen to $593.86, establishing a key support zone between $594 and $600. A daily close above the 100-day MA would reinforce the recovery and shift focus toward the 200-day moving average at $628.51.
Liquidation data highlights concentrated short exposure around $618–$623, the bulk of it at $622–$623. A break above $610 with rising volume could trigger forced closures of those shorts, potentially accelerating BNB into the $628–$635 resistance area. However, volume has not kept pace with the price recovery, and thin follow-through remains a risk. Downside liquidity sits near $598, and losing the Supertrend at $593.86 would weaken the structure, exposing the 20-day MA at $583.47 and the deeper 50-day MA at $575.50.
Crypto commentator DongPham noted three constructive weekly closes but sees the longer-term picture as a retracement after BNB lost a trend level around $673 in February. He identified a possible retest of the $780–$790 zone, contingent on first clearing the $628–$635 hurdle and reclaiming $673. For now, the short-term bias remains constructive above $593.86, with a confirmed break above $610 opening the path toward the liquidation cluster.
