BNB surged in October, briefly surpassing $1,300 on Tuesday to reach a high of $1,336. Although the token has pulled back slightly below $1,300, it continues to show bullish momentum, posting a 1.43% gain over the past 24 hours and a 27% increase over the past week, according to crypto.news market data.
BNB’s price action has been marked by a series of higher highs and higher lows, reinforcing the aggressive bullish trend that started in late August. However, the latest candlestick features a long upper wick, indicating that the push past $1,330 triggered notable profit-taking.
Technical indicators are signaling caution. The Relative Strength Index (RSI) sits at 74.51, indicating 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 points to weakening strength, often a precursor to consolidation or a pullback.
Key support levels now range between $1,215 and $1,230, which previously acted as resistance during the breakout. A deeper correction could see BNB testing the $1,150 zone. On the upside, a close above $1,300 would reinforce bullish control, with $1,334 as the next resistance and potential targets of $1,400–$1,500 if momentum continues.
BNB Chain Memecoins Fuel the Rally
Adding to the excitement 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 sharp increases in both trading volume and price.
“BNB meme szn!” Zhao recently tweeted on X. “I didn’t expect this at all. And people keep asking me to predict the future. Keep building!”
Leading the charge is $4, a meme coin inspired by Zhao’s viral four-finger photo, which emerged during the recent BNB Chain X account hack. Another trending token draws its name from Binance’s Giggle Academy.
The $4 token has surged 16.58% in the past 24 hours and 339.31% over the past week. On-chain data shows over 100,000 traders have joined the meme season, with 70% currently in profit and some earning millions.
As Binance Coin targets a return to the $1,300 mark, market watchers are closely monitoring whether bulls can regain control or if overbought conditions will trigger a pullback. Meanwhile, the surge in BNB Chain memecoins is sparking fresh excitement and drawing thousands of new traders into the ecosystem.
