Key takeaways:
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Build eyes 40% upside down to $ 2 because the ascending pattern of this triangle strengthens the middle of the booming BNB meme activity.
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Four.MEME DAILY DAYS ARE MORE THAN PUMP.FUN, with approximately 70% of now traders in income.
Form, the native token of the memecoin launchpad of BNB chain Four.meme has advanced about 85% to less than two weeks. This includes a 50%-Plus jump in the past 24 hours, following Binance co-founder Changpeng “CZ” Zhao’s Viral “Bnb the same szn”Post on X.
Multiple technical and onchain indicators now indicate an additional price boom for form in October. Let’s check.
Develop ascending triangular schemes to setup clues at 40% rally
The form token shows the early signs of a basic bullish backbone.
After tinging more than 75% in recent months, the token now appears to form a upward pattern of the trianglea structure commonly associated with parsimony returns when formed after a period of downtrend.
Until Wednesday, form forms close to $ 1.42, returning from a local bottom around $ 0.80. The horizontal resistance of the pattern lies near $ 1.50- $ 1.60, while its rising trend has supported higher lows since late September.
A decisive breakout above the resistance can confirm the triangular setup, which puts a way for a move to $ 2, representing almost 40% upside down from the current levels.
Momentum indicators return to this situation, with the sun -day Relative Strength Index (RSI) The recovery strongly from oversold conditions below 30 marks. Increasing trading volumes strengthens the view that the reverse momentum of the form is strong.
Four.meme more than pump.fun income
The bullish setup of the form coincides with a resurrected BNB ecosystem, in which the meme-driven-driven activity exploded following the CZ meme season post. Which is seen in Four.MEME’S TOTAL-VALUED-LOCED (TVL) METRIC.
Launchpad gained $ 1.40 million in income at the same time, exceeding its rival pump.fun, making $ 885,420, according to Data of Defillrama.
The price of the native token of pump.fun, pump, has sank more than 20% last week, further suggesting that entrepreneurs think mainly.
Solana Memecoins are also in red as the focus changes to the BNB chain rival.
Related: Trump Memecoin Issuer is looking for a $ 200m Treasury while token drops 90%
On the contrary, most of the top four.meme’s token rose at the same time.
More than 70% of four.MEME entrepreneurs earn Like Wednesday, according to data resource bubblemaps.
The modified hype also increased the dominance of the BNB market, helping it Return th -3 place by market capitalizationreached XRP (XRP).
What can change the bullish view of the form?
Despite the ongoing reversal momentum, the form chart also outlines a potential bear flag pattern, characterized by the in parallel of the trendlines following the 50% denial of September.
Such formations often lead to a continuation of the previous downtrend if the price breaks below the lower border. A close under $ 1.28 can flip a bearish sentiment, opening the door for a deeper correction towards the $ 0.50- $ 0.60 zone.
In that case, the scenario of the bullish breakout to $ 2 is invalid, the sign that the recent form rebound can be just a short-term rally.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
