BNB Price Forecast: Binance Coin Shows Cracks Near $1.19K Record High

Binance’s BNB (BNB) coin has hit a record high near $1,190, but its latest rally may be running too hot. The token’s daily chart now shows early signs of exhaustion that could pave the way for a short-term correction.

Bearish divergence signals caution

The clearest warning comes from a bearish divergence between price and momentum.

While BNB’s price has surged to new highs, the relative strength index (RSI) has failed to confirm the move, instead forming lower highs. This divergence often signals fading bullish momentum and the risk of a reversal.

Adding to the caution, BNB’s RSI reading has entered overbought territory above 70. Historically, such overextended conditions have triggered healthy pullbacks in the token’s price.

Previous corrections from similar RSI levels have seen BNB revisit its 20-day exponential moving average (EMA) as support. The 20-day EMA currently sits near $1,020, roughly 10% below the current spot price.

If bearish pressure deepens, the decline could extend toward the 50-day EMA around $940, implying a potential 20% drawdown.

Both moving averages have acted as strong support zones throughout BNB’s rally this year, making them logical downside targets if profit-taking accelerates.

BNB onchain data reinforces profit-taking risk

Glassnode data reinforces the short-term caution for the Binance coin.

Nearly 100% of BNB’s circulating supply is currently in profit, a level that has historically preceded local market tops. When most holders sit on gains, the incentive to lock in profits increases, often triggering waves of selling pressure.

The chart also highlights that similar profit-saturation events in the past year have preceded notable price pullbacks.

For instance, when supply in profit approached near-perfect levels in March and July 2024, BNB underwent multi-week corrections of more than 15%. A comparable scenario may now be unfolding as the token trades above $1,150.

Still, the broader uptrend remains intact as long as the price holds above these key averages.

Short-term traders may view a dip toward $1,020–$940 as a healthy reset within a longer-term bullish cycle, while aggressive buyers might even treat it as a fresh accumulation opportunity.