FORM Eyes $2.90 Top as Price Holds Above 0.618 Fibonacci Support Level
The post FORM Eyes $2.90 Top as Price Holds Above 0.618 Fibonacci Support Level appeared on BitcoinEthereumNews.com.
FORM trades within an ascending channel after a confirmed breakout above $2.30. RSI and MACD readings confirm sustained bullish strength and upward momentum. FORM cryptocurrency has entered a strong bullish phase after consolidating below the $2.30 level through mid-April. The asset remained trapped in a tight range from early April until April 27, forming a visible breakout zone on the daily chart. After days of narrow price movement, FORM/USDT confirmed a breakout and began trading inside an ascending regression channel that remains intact. FORM Current Price Action Revealed According to market data, the cryptocurrency opened it market with a price value of $2.7951 during the Asian trading session. The token traded between $2.71 and $2.83 in the past 24 hours. Its all-time high of $2.97 occurred on May 13, 2025. The price has dropped 6.96% since that high. It reached a low of $0.143 on February 3, 2025. Since then, the token has gained 1830.63% from that bottom. A deeper analyis on the price trend indicates that FORM is trading at $2.77 after gaining 1.91% in 24 hours. Market capitalization stands at $1.05 billion. Trading volume increased 129.33% to reach $33.55 million. The token reached a high near $2.82 before retracing slightly. Price movement showed upward momentum starting mid-day, followed by sharp pullbacks. The asset rebounded near the $2.72 mark before recovering again. Volatility persisted across several hours as the token moved between $2.73 and $2.82. Momentum Builds After Price Stabilization During the initial breakout, a technical analysis indicates that the token moved from the $2.10 support area and quickly reached $2.60. This rise occurred after a lengthy accumulation zone marked in purple. The breakout confirmed strength at the 0.618 Fibonacci level, with price holding above $2.20 for several sessions. After breaching resistance, the price continued rising, forming higher highs…
Filed under: News - @ May 17, 2025 2:22 pm