BNB price has experienced a minor pullback as it shows signs of exhaustion. Meanwhile, BNB Chain memecoins are gaining traction, posting triple-digit gains.
Summary
- BNB price retreats below $1,300 as profit-taking increases.
- The RSI currently reads 74.51, signaling overbought conditions, while the MACD remains bullish but shows signs of waning momentum.
- Price action reveals key support between $1,215 and $1,230, with resistance near $1,334 and $1,400.
- Memecoins on BNB Chain are gaining momentum, with several posting strong gains over the past week.
BNB price has been rallying in October, crossing the $1,300 level on Tuesday to a peak of $1,336. While the token has since relinquished some of its gains and slipped below the $1,300 level, it remains in bullish territory, notching a 1.43% gain on the 24-hour chart and 27% over the past seven days, per market data crypto.news.
BNB (BNB) price action has been characterized by consistent higher highs and higher lows, confirming an aggressive bullish structure that began in late August. However, the latest candle shows a long upper wick, a signal that the push past $1,330 was met with significant profit-taking.
Technical indicators point to rising caution. The Relative Strength Index (RSI) has hit 74.51, signaling overbought conditions, while the MACD remains bullish with the MACD line well above the signal line. Despite the strong momentum, a minor bearish divergence between RSI and price suggests weakening strength, often an early warning of consolidation or reversal.
Key support now lies between $1,215 and $1,230, the former resistance zone during the breakout. A deeper correction could target the $1,150 area. On the upside, a close above $1,300 could reestablish bullish control, with $1,334 as the next resistance and $1,400–$1,500 possible if momentum persists.
BNB Chain memecoins join BNB price rally
Adding to the buzz around the BNB ecosystem is a surge in memecoins on the BNB Chain, many inspired by Binance and founder Changpeng Zhao. These tokens have seen a sharp rise in both trading volume and price.
“BNB meme szn!” Zhao recently posted on X. “I didn’t expect this at all. And people keep asking me to predict the future. Keep building!,” he added.
Leading the rally is $4, a meme coin based on Zhao’s viral four-finger photo, which surfaced during the recent BNB Chain X account hack. Another trending token is named after Binance’s Giggle Academy.
The $4 token is up 16.58% in the past 24 hours and 339.31% over the week. On-chain data shows over 100,000 traders have jumped into the meme season, with 70% in profit and some gaining millions.
As the Binance Coin eyes a return to the $1,300 level, all eyes are on whether bulls can reclaim higher ground or if overbought conditions will force a cooldown. At the same time, the rise of BNB Chain meme coins is fueling new enthusiasm and attracting thousands of new traders.
