$FORM once again got rejected just below the strong resistance at $3.0, topping out at $2.9284. After that, price dropped sharply to a low of $2.5678 before stabilizing near $2.5894. This shows a clear double-top pattern and strong seller pressure near $2.90–$3.00, which is now confirmed as a heavy resistance zone.

From a technical view, the breakdown came after a failed breakout attempt with lower highs and high selling volume on the 2-hour chart. The support at $2.7080 was broken easily, triggering stop-losses and fast sell-offs.

The main reason behind this dump could be profit-taking after a quick rally, low buyer strength above $2.90, and possible market-wide correction seen across many altcoins today. If FORM fails to hold above $2.55–$2.57, we may see a deeper pullback. For now, bears are leading, and bulls need to reclaim $2.70+ to shift momentum again.

Trade here on $FORM