{"id":13637,"date":"2025-10-17T11:40:37","date_gmt":"2025-10-17T11:40:37","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bnb-price-at-risk-of-crash-as-it-confirms-bearish-double-top-pattern\/"},"modified":"2025-10-17T11:40:43","modified_gmt":"2025-10-17T11:40:43","slug":"bnb-price-at-risk-of-crash-as-it-confirms-bearish-double-top-pattern","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bnb-price-at-risk-of-crash-as-it-confirms-bearish-double-top-pattern\/","title":{"rendered":"BNB price at risk of crash as it confirms bearish double top pattern"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">BNB price remains at risk of further losses in the short term after confirming a bearish double top pattern just days after hitting a new all-time high.<\/p>\n<div id=\"cn-block-summary-block_77bc0a842ba867baa99268fea29701ae\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>BNB price dropped 22% to an intraday low of $1,069 on Friday.<\/li>\n<li>The token has confirmed a bearish reversal pattern on the 4-hour chart.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to data from crypto.news, BNB (BNB) price fell 22% to an intraday low of $1,069 on Oct. 17 during Asian trading hours, after reaching a new all-time high of around $1,370 earlier on Monday.<\/p>\n<p>In the past 24 hours, the token\u2019s trading volume has slipped by 13% to $3.7 billion, while its market cap dropped from roughly $166 billion to about $149.5 billion at the time of writing.<\/p>\n<h1 class=\"wp-block-heading\">BNB confirms double top<\/h1>\n<p>Amid this decline from its new all-time high, BNB has confirmed a double top pattern that had been forming since early October.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">BNB price has confirmed a bearish reversal pattern on the 4-hour chart \u2014 Oct. 17 | Source: crypto.news<\/figcaption><\/figure>\n<p>When this pattern is confirmed, it\u2019s typically a sign of a bearish reversal, especially when other indicators also support the view.<\/p>\n<p>BNB\u2019s all-time high of around $1,370 serves as the upper boundary of the pattern, while the neckline is positioned near $1,103, a level the token slipped below earlier today as it fell.<\/p>\n<p>BNB price has also dropped below the 20-day simple moving average and is now testing the 50-day simple moving average around $1,017, further adding weight to the bearish narrative.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Momentum indicators are showing similar weakness. Both the MACD and the RSI have turned downward, indicating that bearish pressure remains firmly in control of the market.<\/p>\n<p>For now, the key support level rests at $1,017. A clear break below this could accelerate losses toward $904, which coincides with the 100-day simple moving average, and potentially further down to $829. The latter target is derived by subtracting the height of the double top formation from the neckline breach point. This bearish objective sits roughly 22% below the current price.<\/p>\n<p>On the contrary, the next key resistance lies at $1,129, a level that aligns with the 61.8% Fibonacci retracement and a zone where bulls previously attempted to regain control.<\/p>\n<h2 class=\"wp-block-heading\">Why is BNB price down today?<\/h2>\n<p>BNB\u2019s decline came as part of a broader market sell-off that dragged the total crypto market capitalization down by 5.8% to around $3.63 trillion. Bitcoin (BTC) slipped by 5.3%, while other major tokens like Ethereum (ETH), XRP (XRP), and Solana (SOL) also registered steep losses, north of 7%.<\/p>\n<p>Renewed macroeconomic and geopolitical concerns, including the ongoing trade tensions between the United States and China, remain the primary catalyst for the crypto market\u2019s latest downturn.<\/p>\n<p>Another reason behind BNB\u2019s slide is that demand in the derivatives market has started to fade. According to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/BNB\/futures\" target=\"_blank\" rel=\"nofollow\">data<\/a> from CoinGlass, open interest on BNB futures contracts has fallen by more than 14% over the past 24 hours.\u00a0<\/p>\n<p>That sentiment has carried over to the derivatives market, with demand for BNB futures showing clear signs of cooling. According to Coinglass, BNB\u2019s long\/short ratio has dropped to 0.88, indicating that bearish positions are currently dominating. This confirms that derivatives traders are increasingly betting against BNB in the short term, adding further pressure to its spot price.<\/p>\n<p>Traders have also turned more cautious as the demand for BNB-based memecoins has started to fade. Tokens including \u201c4,\u201d Binance Life, and PALU, which once stirred excitement around the BNB ecosystem and helped push network revenue, have tumbled with losses ranging from 40-55% from their weekly highs.<\/p>\n<p>The rapid sell-off not only wiped out recent gains but also seems to have dampened sentiment toward BNB, prompting many speculators to step aside and wait for a clearer market direction.<\/p>\n<p>Despite today\u2019s pullback, some analysts believe BNB bulls may still have the upper hand. A recent chart shared by analyst group FOUR Crypto Spaces <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/X_Four_iv\/status\/1978808150125142501\" target=\"_blank\" rel=\"nofollow\">shows<\/a> BNB holding firm near the key support level around $1,070 and potentially gearing up for a trendline breakout on the 4-hour chart.<\/p>\n<p>According to them, if the breakout is confirmed, it could open the door for a recovery toward the $1,350 zone.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BNB price remains at risk of further losses in the short term after confirming a bearish double top pattern just days after hitting a new all-time high. Summary BNB price&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3789,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=13637"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13637\/revisions"}],"predecessor-version":[{"id":13638,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13637\/revisions\/13638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/3789"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=13637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=13637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=13637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}