Key takeaways:
FORM aims for a 40% increase towards $2 as its ascending triangle pattern strengthens with rising BNB meme activity.
Four.Meme’s daily earnings exceed Pump.fun, with about 70% of its traders currently in profit.
FORM, the native token of BNB Chain’s memecoin launchpad Four.Meme, has jumped nearly 85% in under two weeks. This includes a more than 50% rise in the last 24 hours, following Binance co-founder Changpeng “CZ” Zhao’s popular “BNB meme szn” tweet on X.
Several technical and on-chain indicators now suggest a potential price surge for FORM in October. Let’s take a closer look.
FORM’s ascending triangle pattern indicates a 40% rally
FORM is displaying initial signs of a significant bullish reversal.
After a decline of over 75% in recent months, the token is forming an ascending triangle pattern, commonly associated with trend reversals following a downtrend.
As of Wednesday, FORM is trading around $1.42, recovering from a local low near $0.80. The pattern’s horizontal resistance exists around $1.50–$1.60, while its rising trendline provides support for higher lows since late September.
A decisive breakout above this resistance could validate the triangle setup, paving the way for a move towards $2, which represents about a 40% upside from current levels.
Momentum indicators support this scenario, as the daily relative strength index (RSI) rapidly recovers from oversold conditions below the 30 threshold. Increasing trading volumes further bolster the notion of strong upside momentum for FORM.
Four.Meme exceeds Pump.fun’s daily revenue
FORM’s optimistic setup aligns with a rejuvenated BNB ecosystem, where meme-driven trading activities have surged following CZ’s post about meme season. This is evident in Four.Meme’s total-valued-locked (TVL) metrics.
The launchpad generated $1.40 million in revenue during this period, outpacing its Solana rival Pump.fun, which earned $885,420, as per DefiLlama data.
The price of Pump.Fun’s native token, PUMP, has dropped by over 20% in the past week, which indicates that traders are primarily speculating on FORM lately.
Solana memecoins are also experiencing declines as the focus shifts to BNB Chain’s offerings.
Related: TRUMP memecoin issuer looks for $200M treasury as token plummets 90%
On the flip side, most of Four.Meme’s top tokens have increased during the same time frame.
Approximately 70% of Four.Meme’s traders were in profit as of Wednesday, according to data resource Bubblemaps.
The renewed excitement has also boosted BNB’s market dominance, allowing it to reclaim the 3rd position by market capitalization, surpassing XRP (XRP).
Factors that could alter FORM’s bullish outlook
Despite the current upward momentum, FORM’s chart also reveals the possibility of a bear flag pattern, identified by parallel ascending trendlines following a 50% decline in September.
Such formations often signal a continuation of the previous downtrend if the price breaks below the lower boundary. A close below $1.28 could turn sentiment bearish, triggering a deeper correction towards $0.50–$0.60.
In that scenario, the bullish breakout toward $2 would be negated, indicating that FORM’s recent rebound might merely be a short-term relief rally.
This article does not provide investment advice or recommendations. All investments and trading actions involve risk, and readers should perform their own research when making decisions.
