BNB Under Pressure: Could Double Top Signal Correction in October?

Despite the broader cryptocurrency market experiencing losses following US President Trump’s tariff threats, Binance Coin (BNB) has bucked the trend, achieving record highs before experiencing a sharp decline. Following a new ATH on Monday, BNB fell to $1,150 within just two days. 📈 While it has been falling since its recent surge, experts suggest that BNB has failed to maintain its rally and has been repeatedly rejected at the $1,350 mark in the past week. This raises concerns about a potential correction in October. 🔮. A double top formation on BNB’s daily chart suggests a possible decline of up to 30%. Analysts have identified the neckline of this formation around $1,100. If a closing candle below this level occurs on Friday, it would signify the completion of the double top and signal a price drop. Moreover, recent negative news surrounding Binance and a net outflow of $21.75 billion in the last seven days could potentially erode BNB’s upward momentum. ⚠️ *This is not investment advice.*