Contract Password: $FORM
Three Core Reasons for Bearish FORM
1. Divergence between Volume and Price, Uptrend is Weak: FORM's price is rising but the trading volume has not increased correspondingly, which is a typical divergence between volume and price. The uptrend relies on short-term technical movements and lacks real capital support; it is prone to reverse and drop after encountering resistance.
2. Overbought Warning, Correction Imminent: The market is already in an overbought state, with most investors holding positions at high levels, leading to a lack of buying power for future trades. Once concentrated selling occurs, it can easily drive prices down, and technical support may struggle to withstand correction pressure.
3. Resistance Level in the Way, Breakthrough Unlikely: The price is approaching the strong resistance level of 0.455, where there are many trapped positions and short positions. Currently, the trading volume is insufficient and overbought, making it powerless to break through. Selling pressure near the resistance level may trigger a decline.
Take profits steadily and aim for a double run, with targets seeing 0.3 or even lower. A stop-loss at a new high is sufficient and doesn't need to be very high.
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