$FORM/USDT – Bearish Momentum Building: Short Opportunity on Failed Bounce
Current Price: $2.4678 (+4.60%)
After a strong rally, $FORM hit significant resistance at $2.65 and has since begun forming a series of lower highs, suggesting a shift in momentum. Sellers are beginning to dominate as price compresses beneath key resistance.
Key Technical Zones:
Resistance: $2.52 – $2.55
Support: $2.36 – $2.30
Short Trade Plan:
Entry Range: $2.48 – $2.51 (look for rejection signals or failure to sustain a bounce)
Stop-Loss: Above $2.55 (break above structure invalidates the setup)
Take-Profit Targets:
TP1: $2.42 – Minor pullback zone
TP2: $2.36 – Mid-level support
TP3: $2.30 – Strong support base
Market Outlook:
A classic post-pump rejection scenario is unfolding. With bullish momentum fading, this could be a textbook short setup as sellers begin to assert control. Watch for confirmation via price action and volume shifts before entering.
