Strong breakout signal on
#FORM Current price: 0.3618
Change: +10.64%
🔎 Overview
The FORM coin has managed to break the descending wedge pattern cleanly on the 15-minute timeframe, which is a reversal pattern that usually indicates the start of a bullish wave with buyers entering strongly again.
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🎯 Suggested trade setup
Entry area: 0.3590 – 0.3610
Stop loss: 0.3575
Profit taking targets:
TP1: 0.3678
TP2: 0.3720
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📊 Technical analysis
📌 Clear bullish momentum:
The breakout from the descending wedge indicates a return of buying power after a period of selling pressure, which is the first positive reversal signal.
📌 Potential for continued upward movement:
If the price holds above the broken wedge resistance area, it is expected that the movement will continue towards the next resistance levels, especially with increasing gradual momentum.
📌 Monitoring trading volume:
Any increase in volume will support the bullish scenario and increase the likelihood of the price reaching the specified targets.
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