BNB price nears $600 with shorts at risk

cryptonews

Aug 04

BNB price traded near $590 on Tuesday after holding a trendline breakout, but resistance at $592 and a large liquidation cluster above $605 could decide its next move. Summary BNB price broke ...

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One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://www.itiger.com/news/2656556607"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2656556607\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2656556607?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-08-04 20:30","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2656556607","market":"sh","top_or_hot":-1,"title":"BNB price nears $600 with shorts at risk","media":"cryptonews","content":"<div>\n<p>BNB price traded near $590 on Tuesday after holding a trendline breakout, but resistance at $592 and a large liquidation cluster above $605 could decide its next move.\n\n\nSummary\n\n\n\nBNB price broke ...</p>\n\n<a href=\"https://crypto.news/bnb-price-nears-600-dollars-with-shorts-at-risk/\">Source Link</a>\n\n</div>\n","source":"crypto_news_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBNB price nears $600 with shorts at risk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-08-04 20:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/bnb-price-nears-600-dollars-with-shorts-at-risk/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BNB price traded near $590 on Tuesday after holding a trendline breakout, but resistance at $592 and a large liquidation cluster above $605 could decide its next move.\n\n\nSummary\n\n\n\nBNB price broke ...</p>\n\n<a href=\"https://crypto.news/bnb-price-nears-600-dollars-with-shorts-at-risk/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XBNB","symbol_name":"Teucrium xETFs 2x Long Daily BNB ETF","start_time":0,"source_url":"https://crypto.news/bnb-price-nears-600-dollars-with-shorts-at-risk/","article_id":"2656556607","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/bnb-price-nears-600-dollars-with-shorts-at-risk/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2656556607","pubTimestamp":1785846600,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"BNB price traded near $590 on Tuesday after holding a trendline breakout, but resistance at $592 and a large liquidation cluster above $605 could decide its next move.BNB price broke above a descending trendline and successfully retested the former resistance as support.The daily RSI has risen to 57.45, while the MACD remains in bullish territory.$592 to $600 is the immediate resistance zone separating BNB from a larger recovery.According to data from crypto.news, BNB  price was trading at $590.10 at press time after moving between $588 and $593.09 during the daily session. The token has gained roughly 4% over the past week, recovering from a recent low near $566.BNB price 4-hour chart — Aug. 4 | Source: crypto.news. This sequence converted the former trendline resistance into short-term support. BNB also remains above the 4-hour Supertrend, currently positioned near $576.57, keeping the short-term structure bullish.BNB price daily chart — Aug. 4 | Source: crypto.news. A confirmed brea","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"XBNB":"Teucrium xETFs 2x Long Daily BNB ETF"},"translate_title":"BNB 价格接近 600 美元，空头面临风险","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XBNB":1.5},"content_text":"BNB price traded near $590 on Tuesday after holding a trendline breakout, but resistance at $592 and a large liquidation cluster above $605 could decide its next move.\n\n\nSummary\n\n\n\nBNB price broke above a descending trendline and successfully retested the former resistance as support.\nThe daily RSI has risen to 57.45, while the MACD remains in bullish territory.\n$592 to $600 is the immediate resistance zone separating BNB from a larger recovery.\nThe liquidation heatmap shows concentrated short liquidity around $605 to $610.\n\n\n\nBNB price holds breakout above $581\nAccording to data from crypto.news, BNB (BNB) price was trading at $590.10 at press time after moving between $588 and $593.09 during the daily session. The token has gained roughly 4% over the past week, recovering from a recent low near $566.\nThe 4-hour chart shows that BNB broke above a descending trendline that had capped its recovery since early July. Buyers then defended a retest near $576 before pushing the price back toward $590.\nBNB price 4-hour chart — Aug. 4 | Source: crypto.news\nThis sequence converted the former trendline resistance into short-term support. BNB also remains above the 4-hour Supertrend, currently positioned near $576.57, keeping the short-term structure bullish.\nThe daily chart provides another important level at $581.62. This marks the 78.6% Fibonacci retracement of BNB’s decline from $745.33 to $537.05. Holding above it strengthens the breakout, while a daily close below the level would weaken the current setup.\nBNB price daily chart — Aug. 4 | Source: crypto.news\nHowever, the Chaikin Money Flow reading on the 4-hour chart remains at -0.06. This shows that capital inflows have not fully confirmed the price recovery, leaving the move vulnerable if buying volume fades.\nWhat is driving the BNB move?\nRising network activity has supported BNB’s recovery. BNB Chain recorded approximately $19 billion in weekly decentralized exchange volume, placing it ahead of Ethereum and Solana during the measured period.\nNetwork utilization also increased from roughly 17% to almost 30%. Higher activity can support demand for BNB because the token is used to pay transaction fees and deploy contracts across the network.\nThe chain’s latest quarterly burn provides a longer-term supply tailwind. BNB Chain removed approximately 1.62 million BNB, worth about $932 million at the time, during its 36th quarterly burn in July. The reduction left the total supply near 133.17 million BNB.\nThese fundamentals have helped BNB outperform a largely range-bound altcoin market. Still, the immediate move appears primarily technical, following the confirmed breakout and retest visible on the 4-hour chart.\n$592 could decide whether BNB reaches $616\nBNB is now testing $592, a level that has repeatedly acted as resistance during 2026. The token briefly traded above this area but has yet to establish a decisive daily close beyond it.\nA confirmed break above $592 would bring the $600 psychological barrier into focus. The one-week liquidation heatmap shows the largest nearby concentration of leveraged positions between $605 and $610.\nBNB liquidation heatmap | Source: CoinGlass\nIf BNB moves into that range, forced short liquidations could add buying pressure and accelerate the advance. The next chart-based target would then sit at $616.61, corresponding to the 61.8% Fibonacci retracement.\nBeyond $616, the daily chart identifies additional resistance at $641.19 and $665.77. Those targets would require stronger spot demand because BNB would be moving into a broader supply zone created during its June decline.\nThe daily MACD supports the bullish case. The MACD line remains above its signal line, while the positive histogram stands near 0.47. RSI has climbed to 57.45, above its moving average of 50.90 but still below overbought territory.\nAnalysts see the retest as bullish confirmation\nCrypto analyst Batman said BNB had reclaimed its 50-day moving average and successfully retested the breakout zone.\n“This opens up a big move ahead,” the analyst wrote.\nSatoshi Stacker also identified $592 as the key level separating a broader uptrend from a temporary recovery. The analyst said flipping that resistance into support would strengthen the case that BNB has moved beyond a relief bounce.\n\n$BNB saw a clean retest of the diagonal level and confirmed it as support after the recent breakout.Now, it is attempting to break above what has been one of the most important levels of 2026 at ~$592. Flipping this level would be a great sign that this is an uptrend and not… pic.twitter.com/cnkLzmi06G— Satoshi Stacker (@StackerSatoshi) August 3, 2026\n\nThe bearish scenario begins if BNB fails at $592 and loses $581.62. In that case, the 4-hour Supertrend area between $575.80 and $576.57 would provide the next support.\nBelow that zone, the liquidation heatmap shows liquidity around $567, while the 4-hour chart places major horizontal support near $556. A break beneath $556 would invalidate the current higher-low structure and expose the daily range floor around $537.\nUS liquidity remains the main external risk\nFor US investors, BNB’s breakout remains sensitive to broader dollar liquidity and Federal Reserve expectations. Higher Treasury yields or a renewed risk-off move could limit demand for altcoins even if BNB Chain activity remains strong.\nGeopolitical pressure and elevated oil prices add to that risk by keeping inflation concerns active. If those conditions push US rate expectations higher, BNB may struggle to attract enough capital for a sustained move through $600.\nFor now, the technical structure favors buyers while BNB remains above $581.62. A daily close above $592 would improve the probability of a move toward the $605–$616 region, while a loss of $576 would return the token to its previous consolidation range.\n\n\n  \n\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        \n\n\n\n\n\n\n                Read more:\n            \nCoinbase sets Sept. 9 Deribit migration for institutions","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}