$FORM
has seen an explosive rally, jumping over 40% in less than 24 hours. I’m watching closely because while the momentum is strong, the rapid move suggests the market could pause or consolidate soon. Buyers are clearly optimistic, but short-term signals indicate caution.
Price Action Overview:
The coin surged with strong volume, breaking multiple short-term resistance levels. The bullish trend remains intact, but the speed of the move means we might see minor pullbacks as traders take profits. Support around the previous consolidation zones looks solid, giving a potential entry area for those looking to catch the next leg.
Trade Setup I’m Watching:
Entry Zone: 0.88 – 0.92
Target Point(s): 1.05 (first target), 1.18 (extended target)
Stop Loss: 0.82
Why this setup works:
I’m entering in this zone because it aligns with a previous support area, where buyers have historically stepped in. The first target is based on the next resistance level seen from recent highs, while the extended target considers the continuation of bullish momentum if volume stays strong. The stop loss is tight enough to protect capital but wide enough to avoid being triggered by minor volatility.
I’m planning to scale out at the first target to secure profits and leave a portion for the extended target. Watching the volume closely is key—if buying pressure fades, I’ll adjust or exit early.
This setup gives me a clear risk-to-reward ratio and a structured plan without chasing the rally, letting me trade logically rather than emotionally.
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