$FORM /USDT SHARP PULLBACK โ TESTING MAJOR SUPPORT ZONE
FORM dropped -12.19% in 24h, sliding to $1.47 after failing to hold above the $1.65โ$1.70 resistance zone. The correction brought price close to the $1.44 support, which is crucial for bulls to defend in order to avoid deeper losses.
๐ Key Levels:
Immediate Support: $1.44 โ $1.43 (critical zone to hold)
Next Support: $1.35 if breakdown occurs
Resistance: $1.57 (short-term), $1.66โ$1.70 (major supply area)
๐ Indicators:
MACD momentum still bearish, but flattening around oversold levels.
Bollinger Bands show price testing the lower band โ potential short-term bounce setup.
Volume (21.7M FORM / 33.9M USDT) indicates strong selling pressure but also dip accumulation.
โก๏ธ Market Outlook:
If $1.44 holds, FORM could rebound toward $1.57 โ $1.66 in the near term.
A breakdown below $1.43 may accelerate losses toward $1.35, where next demand lies.
๐ Trading Plan:
Short-term traders: Wait for confirmation above $1.57 before entering.
Long-term holders: Current dip offers accumulation opportunities if support holds.
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