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$BNB price has fallen back under $1,000 after hitting a record high, with cooling volumes and overheated trading leaving the token exposed to further correction.
- $BNB fell 7.8% from its $1,079 peak, now under $1,000 with weaker volume.
- CryptoQuant analyst Darkfost sees strong growth but warns of overheated trading.
- Technical analysis shows mixed signals, with short-term risk unfolding but long-term trend still bullish.
$BNB was trading at $991 at the time of writing, down 2.6% over the previous day. Although the token is still 17% higher over the last 30 days, the move is a 7.8% retracement from its peak of $1,083 on Sept. 3.
Binance Coin’s ($BNB) 24-hour trading volume came in at $2.40 billion, a 17% decline from the previous day, reflecting cooling spot activity. Derivatives markets are also cooling, as per CoinGlass data, with open interest falling 4% to $1.86 billion and futures volume down 24.7% to $2.85 billion.
This suggests less speculative leverage, which is often an indication of declining short-term momentum.
$BNB rally meets resistance
$BNB has been one of the standout performers this cycle, outpacing most major altcoins. According to a Sept. 25 analysis by CryptoQuant contributor Darkfost, the token’s breakout above its former peak of $793 in August marked a decisive shift, putting it into price discovery. The subsequent rally pushed $BNB past $1,000 and to a new record at $1,083, a year-to-date gain of more than 50%.
This strength, according to Darkfost, contrasts with the altcoin market as a whole, which has had difficulty regaining traction. The analyst also noted that a major driver of demand and market confidence is the expanding relationship between Binance and Aster (ASTER), a new perpetual decentralized exchange supported by CZ.
At the same time, Darkfost cautioned that spot volume data indicates overheated conditions. FOMO-driven trades, which often leave rallies vulnerable, have had a significant impact on the recent buying wave. The same momentum that drove the price higher can swiftly reverse when liquidity slows, leaving the market vulnerable to steep declines.
$BNB price technical analysis
$BNB is currently testing the lower band support around $980 after breaking below its middle Bollinger Band at $1,010. At 38, the relative strength index is in neutral-to-oversold territory, indicating that bearish pressure is increasing but has not yet reached its peak.
$BNB price retreats below $1K after ATH, analyst warns of deeper short-term correction - 1">
Key moving averages present a mixed picture. Medium- and long-term MAs are still firmly bullish, while the short-term MAs are flashing sell signals. A cooling short-term trend within a broader uptrend is indicated by this divergence.
A deeper correction might aim for the $950–$935 range, with $980 providing immediate support. If buyers defend $980 and reclaim $1,010, momentum could recover toward $1,050.