Key takeaways:
FORM targets a 40% increase to $2 as its ascending triangle pattern gains strength amid increasing BNB meme activity.
Four.Meme’s daily revenue has exceeded Pump.fun, with approximately 70% of its traders currently in profit.
FORM, the native token of BNB Chain’s memecoin launchpad Four.Meme, has surged nearly 85% in under two weeks. This includes a jump of over 50% in the last 24 hours, following Binance co-founder Changpeng “CZ” Zhao’s widely shared “BNB meme szn” post on X.
Several technical and on-chain indicators now suggest a further price increase for FORM this October. Let’s take a closer look.
FORM ascending triangle reversal setup indicates a 40% rally
The FORM token is signaling early signs of a significant bullish reversal.
After dropping over 75% in recent months, the token is forming an ascending triangle pattern, typically associated with trend reversals following a downtrend.
As of Wednesday, FORM is trading around $1.42, recovering from a low of approximately $0.80. The horizontal resistance for the pattern is near $1.50–$1.60, while the rising trendline has been supporting higher lows since late September.
A decisive breakout above resistance may confirm the triangle setup, potentially leading to a rise toward $2, indicating about a 40% upside from current levels.
Momentum indicators support this scenario, with the daily relative strength index (RSI) recovering sharply from the oversold area below the 30 mark. Increasing trading volumes further indicate that FORM’s bullish momentum is strong.
Four.Meme surpasses Pump.fun’s daily revenue
FORM’s bullish scenario coincides with a revitalized BNB ecosystem, where meme-driven trading has surged following CZ’s meme season post. This is evident in Four.Meme’s total-value-locked (TVL) metric.
The launchpad generated $1.40 million in revenue over this period, surpassing its Solana competitor Pump.fun, which brought in $885,420, according to DefiLlama data.
The price of Pump.Fun’s native token, PUMP, has declined by over 20% in the past week, indicating that traders are increasingly focusing on FORM.
Solana memecoins are also in decline as attention shifts to the BNB Chain rival.
Related: TRUMP memecoin issuer seeks $200M treasury as token declines 90%
Conversely, many of Four.Meme’s tokens have increased in value during the same timeframe.
As of Wednesday, about 70% of Four.Meme’s traders were in profit, according to data from Bubblemaps.
The renewed excitement has also boosted BNB’s market dominance, helping it reclaim the 3rd position by market capitalization, surpassing XRP (XRP).
What could impact FORM’s bullish outlook?
Despite the ongoing upward momentum, FORM’s chart also indicates a potential bear flag pattern, characterized by parallel ascending trendlines following its 50% drop in September.
Such formations can precede a continuation of the previous downtrend if the price falls below the lower boundary. A close below $1.28 could shift sentiment bearish, opening the path for a deeper correction towards the $0.50–$0.60 range.
In that event, the bullish breakout scenario targeting $2 would be invalidated, signaling that FORM’s recent rebound might be merely a short-term relief rally.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
