BNB Price has experienced a slight pullback as it shows signs of exhaustion. Meanwhile, the BNB chain memo coin is gaining traction and posting triple-digit gains.
summation
- BNB price remains below $1,300 as profit decline increases.
- The RSI currently reads 74.51, signaling an overflow condition, while the MACD is bullish but shows signs of debilitating momentum.
- Price action shows key support between $1,215 and $1,230, with resistance near $1,334 and $1,400.
- Memecoins on the BNB chain has been gaining momentum with several posts over the past week.
BNB Price surpassed $1,300 on Tuesday, hitting a record high of $1,336 in October. The token has since given up some gains and slipped to $1,300, but remains in bullish territory, registering gains of 1.43% on the 24-hour chart and 27% over the past seven days, as per market data crypto.news.
BNB (BNB) price action has been characterized by consistent high highs and high lows, confirming the aggressive bullish structure that began in late August. However, the newest candle shows a long upper wick.
Technical indicators point to heightened caution. The Relative Strength Index (RSI) has reached 74.51, signaling an overshoot condition, while the MACD remains bullish with the MACD line above the signal line. Despite strong momentum, minor bearish divergence between RSI and price suggests weakening strength, often an early warning of a consolidation or reversal.
Key support is now between $1,215 and $1,230, the previous resistance zone during the breakout. A deeper correction could target the $1,150 area. On the upside, above $1,300 could re-establish bullish control, with the next resistance at $1,334 and $1,400-$1,500 possible if momentum continues.
BNB Chain Memecoins Joins BNB Price Rally
Adding to the buzz around the BNB ecosystem is the surge of memo coins on the BNB chain, which are inspired by Binance and its founder Changpeng Zhao. This token has seen a rapid increase in trading volume and price.
“Bnb Meme Szn!” “I didn’t expect this at all,” Zhao recently posted on X. “People keep asking me to predict the future.
Leading the rally is $4, a meme coin based on Zhao’s viral four-fingered photo that surfaced during the recent BNB Chain X account hack. Another trending token is named after Binance’s Giggle Academy.
The $4 token has increased by 16.58% and 339.31% over the past 24 hours. According to on-chain data, over 100,000 traders jumped into the meme season and 70% made profits, with some making millions.
With the Binance coin back at $1,300, all eyes are on whether the bulls can regain ground higher or whether overbuy conditions will force a cooldown. At the same time, the rise of BNB chain meme coins is sparking new enthusiasm and attracting thousands of new traders.