$FORM /USDT – Possible Pullback Incoming?

Current Price: $2.73 (+1.57%)

Reason:

Despite a short-term bounce, $FORM is facing rejection below MA(7) at $2.75 and struggling to maintain upward momentum. The price is also nearing resistance near the 24h high ($2.83). Moreover, volume is declining compared to earlier spikes, hinting at weakening buyer interest. MA(7) has started to flatten while MA(25) is not showing strong support from below.

Short Setup:

Entry Zone: $2.73 – $2.76

TP1: $2.61

TP2: $2.48

TP3: $2.33

SL: $2.84

Key Observations:

MA(7) flattening after a sharp move, suggesting loss of momentum

Bearish divergence potential with lower volume on new highs

Price still well above MA(99), leaving room for a deeper correction

Pro Tip:

A 1H or 4H close below $2.70 with weak volume confirmation could validate the short setup. Best for conservative pullback traders.

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