• Several indicators are showing that BNB could be on its way to a retracement.
  • BNB is currently trading at $27.1 after a strong rebound from $22.

BNB outperformed the market during September jumping to $33 after several positive announcements from Binance. The rally didn’t last too long, and the digital asset quickly fell to previous trading prices. 

Is the hype of BNB coming to a pause?

The last major correction started on September 14 and took BNB price down from $33.3 to $24.4. Bulls were able to push the price back up to a current high of $26.8, climbing above the 12-hour 50-MA and 100-MA.

BNB/USD 12-hour chart

bnb price

On the 12-hour chart, the TD sequential indicator has presented a sell signal. The last two signals on this time frame were both validated and dropped the price of BNB by an average of 9%. A similar dip would take BNB to $25, just below the 50-MA at $25.3 currently. 

BNB/USD 4-hour chart

bnb price

The native coin of Binance seems to have created a bearish divergence between its price and the RSI. This happens when the uptrend of the price doesn’t match the trend of the RSI. It usually means that momentum is slowing down, and the price is likely to see a rapid decline in the short-term.  

BNB Holders Distribution Chart

bnb price

The chart presented by Santiment seems to prove our theory further. The number of holders between 100,000 and 1,000,000 BNB coins and between 1,000,000 and 10,000,000 has increased since August 11. However, the number of whales has stopped growing since September 14. This metric is showing a lack of interest in the digital asset in the past two weeks.  

BNB/USD daily chart

bnb price

Although the shorter time-frames show a bearish outlook for BNB, zooming out to the daily chart can give us a better perspective of the price action. The MACD is on the verge of turning bullish, and the price of BNB is trading above the 50-MA. The last time the MACD crossed positively, BNB rallied up by 44%. 


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Polygon joins forces with WSPN to expand stablecoin adoption

Polygon joins forces with WSPN to expand stablecoin adoption

WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.

More Cryptocurrencies News
Coinbase envisages listing of more meme coins amid regulatory optimism

Coinbase envisages listing of more meme coins amid regulatory optimism

Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.

More Crypto News
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week. 

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP