Breaking: $BAN Set To Surge 200% Amidst Falling Wedge PatternThe memecoin market has been a rollercoaster of speculation, hype, and volatility, and MIL:BAN (Comedian Token) is no exception. Built on the Solana blockchain, MIL:BAN has captured the attention of traders and enthusiasts alike, presenting a technical setup that hints at a potential 200% surge in the coming weeks.
Technical Analysis
On Monday morning, MIL:BAN experienced a sharp decline, losing approximately 70% of its value amidst broader market turbulence. This drop coincided with Bitcoin’s plunge to the $95,000 region, triggering a widespread sell-off across the crypto space. However, a closer look at MIL:BAN ’s price chart reveals a classic falling wedge pattern—an indicator often associated with bullish reversals.
The falling wedge pattern, characterized by converging trendlines sloping downward, typically signals a slowdown in selling pressure and the potential for a breakout to the upside. As of the time of writing, MIL:BAN is down 35%, but early signs of a reversal are emerging. Despite a weak candlestick formation and subdued momentum, buyers appear to be gradually regaining control. The Relative Strength Index (RSI) currently sits at 35, placing MIL:BAN firmly in oversold territory, further supporting the case for a rebound.
Should the coin break out from this pattern, a price surge of 200% is plausible, bringing MIL:BAN back toward previous resistance levels. However, failure to hold the current support could see it retrace to the $0.030 support zone—a level previously established during a prolonged dip in December 2024, where MIL:BAN formed a U-shaped recovery.
Current Market Data & Outlook
As of now, MIL:BAN is trading at $0.081244, with a 24-hour trading volume of $176.8 million. Its live market capitalization stands at $81.2 million, ranking it #432 on CoinMarketCap. With a circulating supply of 999,961,859 BAN coins and no additional minting, supply constraints could play a role in future price action.
If MIL:BAN successfully breaks out of its falling wedge formation, the potential for a sharp rally remains high. However, traders should remain cautious of broader market movements, as Bitcoin and macroeconomic trends continue to influence memecoin volatility.
