2025-10-16 17:51 |
Binance Coin BNB $1 174 24h volatility: 2.9% Market cap: $163.08 B Vol. 24h: $4.51 B , the native cryptocurrency of the Binance Chain, could soon face an end to its rally, with experts seeing a potential drop under $1,000 coming ahead.
Following rejections at $1,320, BNB price is facing strong selling pressure after a double-top pattern. On-chain data shows signs of potential profit-booking ahead.
BNB Price Sees Strong Selling Pressure After Rejection at $1,350The daily chart of BNB price shows a potential double-top pattern forming near the $1,350-$1,375 range, signaling possible trend exhaustion after its 95% year-to-date rally.
This comes as the crypto market faced its largest liquidations in history last Friday, at a staggering $19 billion.
The two failed breakout attempts, labeled as Top 1 and Top 2, highlight weakening bullish momentum, with the neckline support positioned near $1,100. A confirmed close below this level could validate the bearish formation.
If the pattern plays out, BNB price could drop toward $835. This implies a 30% downside from current prices by late October or early November.
BNB price sees double top pattern formation. | Source: TradingView
Momentum indicators are signaling caution for BNB. The daily Relative Strength Index (RSI) has entered a correction phase after retreating from its overbought zone above 70. This indicates that the bullish momentum is waning.
The Moving Average Convergence Divergence (MACD) has triggered a bearish crossover, showing weak buying momentum. Analysts warn that a drop below the $1,100 support level could accelerate the downtrend in the coming sessions.
On-Chain Indicators Hint Caution for Binance CoinBinance recorded a staggering $21.75 billion in user withdrawals over the past week, marking the highest outflows from a centralized exchange in that period. Notably, $4.1 billion of this total was withdrawn in a single day, according to data from CoinGlass.
Over the past few days, centralized exchanges have seen significant asset outflows, with #Binance experiencing the largest outflow — $21.75 billion over the past seven days.https://t.co/HW9ViO6mPV pic.twitter.com/8ArclaL8sB
— CoinGlass (@coinglass_com) October 15, 2025
BNB’s short-term holder Net Unrealized Profit/Loss (STH NUPL) has recently surged above the 0.25 threshold, a level historically seen as a warning signal.
Crossing this mark often indicates that short-term investors have accumulated significant profits, which can trigger selling pressure and potential price reversals.
Current NUPL readings suggest that many short-term holders are sitting on sizable gains, raising the likelihood of near-term sell-offs.
BNB NUPL indicator shows profit-booking. | Source: Glassnode
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The initial version focuses on the Solana ecosystem, leveraging its fast transactions and low fees. Future updates plan to extend support to Ethereum ETH $3 989 24h volatility: 2.8% Market cap: $481.11 B Vol. 24h: $44.17 B , BNB Chain, and other EVM-compatible blockchains. With its low trading fees and multi-chain roadmap, Snorter Bot has quickly emerged as one of the best crypto presales in the market.
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