BinanceLife has taken the crypto market by storm, surging 76% in just 24 hours. The meme coin, which gained attention as the first token listed with a Chinese ticker, has seen intense demand since launch.
However, the question that arises is whether a short-term cooldown may follow as profit-taking begins to surface.
BinanceLife Looks Safe
According to the Chaikin Money Flow (CMF) indicator, capital inflows into BinanceLife are starting to taper off. This slight decline comes as traders lock in profits after the explosive rally, a common behavior for newly listed cryptocurrencies.
Historically, meme coins experience heightened volatility in their initial days of trading as they establish their investor base. BinanceLife is no exception, with price corrections expected as liquidity stabilizes.
BinanceLife CMF. Source: TradingView
The Relative Strength Index (RSI) provides further insight into BinanceLife’s current phase. The token recently entered the overbought territory after breaching the 70.0 level, triggering a mild pullback. This overextension reflects short-term exhaustion among traders following the 76% daily spike.
Nevertheless, the RSI has since cooled and now sits comfortably above the neutral 50 line—indicating positive sentiment remains intact. If this stability continues, BinanceLife could maintain its upward momentum.
BinanceLife RSI. Source: TradingView
BinanceLife Price Awaits A Boost
At the time of writing, BinanceLife’s price stands at $0.318, marking a 78% rise in 24 hours. The altcoin is currently testing the $0.344 resistance, which has historically acted as a key psychological barrier.
Market data suggests that while short-term resistance may slow progress, the broader trend remains bullish. If momentum strengthens, BinanceLife could break above $0.344, paving the way for a rise toward $0.396 and potentially $0.440 in the near term.
BinanceLife Price Analysis. Source: TradingView
However, a surge in profit-taking could trigger a short-lived correction. If sellers intensify pressure, BinanceLife risks slipping below $0.277 support, exposing the token to a further decline toward $0.179. For now, the market remains divided between cautious traders and long-term holders betting on continued growth.
