Important points:
With BNB meme activity on the rise, FORM is eyeing a 40% rally towards $2 as the ascending triangle pattern strengthens.
Four.Meme’s daily revenue is higher than Pump.fun, and about 70% of its traders are currently making profits.
FORM, the native token of BNB Chain’s meme coin launchpad Four.Meme, has soared nearly 85% in less than two weeks. This includes an increase of more than 50% in the past 24 hours after Binance co-founder Changpeng “CZ” Zhao’s “BNB meme szn” post on X went viral.
Multiple technical and on-chain indicators suggest that FORM price will rise further in October. Let’s find out.
FORM Ascending Triangle Reversal Setup Suggests 40% Upward
FORM token is showing early signs of a major bullish reversal.
After falling more than 75% in recent months, the token currently appears to be forming an ascending triangle pattern. This is a structure associated with a trend reversal, typically when it forms after a downtrend period.
As of Wednesday, FORM was trading around $1.42, rebounding from local lows around $0.80. Horizontal resistance for this pattern lies around $1.50 to $1.60, with its uptrend line supporting the lowest price since late September.
A decisive break above the resistance level could confirm the formation of the triangle and pave the way for a move toward $2, which would be about a 40% upside from current levels.
Momentum indicators support this scenario, with the daily Relative Strength Index (RSI) rapidly recovering from an oversold situation below the 30 mark. The increase in trading volume reinforces the view that FORM’s upward momentum is strong.
Four.Meme exceeds Pump.fun’s daily revenue
FORM’s bullish setup coincides with the resurgence of the BNB ecosystem, which has seen an explosion in meme-driven trading activity following CZ’s Meme Season post. This can be seen in Four.Meme’s total-valued-locked (TVL) metric.
During the same period, Launchpad generated $1.4 million in revenue, beating Solana rival Pump.fun’s $885,420 in revenue, according to DefiLlama data.
The price of Pump.Fun’s native token, PUMP, has fallen over 20% over the past week, further suggesting that traders have been speculating primarily in FORM lately.
Solana Meme Coin is also in the red as the focus shifts to BNB Chain’s rivals.
Related: TRUMP meme coin issuer seeks $200 million in funding as token plummets by 90%
Conversely, most of the top Four.Meme tokens rose during the same period.
As of Wednesday, about 70% of Four Memes’ traders were in profit, according to data resource Bubble Map.
The new hype also increased BNB’s market power, helping it overtake XRP (XRP) to regain the number three spot in terms of market capitalization.
What could change the bullish view on FORM?
Despite continued upward momentum, FORM’s chart also outlines a potential bear flag pattern, featuring a parallel uptrend line after the 50% drop in September.
Such formations often precede the continuation of a previous downtrend when the price falls below the floor. A close below $1.28 could turn sentiment bearish and open the door to a deeper correction towards the $0.50-$0.60 zone.
In that case, the bullish breakout scenario towards $2 would be invalidated, suggesting that FORM’s recent rally may be nothing more than a short-term rescue rebound.
