This week, Form saw a notable increase after staying relatively calm for over a month. It currently appears bullish on the daily scale and seems ready to print a new high following a fresh surge in volatility.
As the crypto market takes a little downturn in the past few days, Form remains bullish and continues to display strength on the daily chart.
The bullish move, which started after months of correcting to a low of $0.135 in February, looks set to expand to a new high. This latest buy signal came after witnessing a serious contraction throughout April.
Earlier today, the price got rejected after almost breaking out of a key resistance level of $2.66 – marked as all-time high. A successful flip through this resistance level could rocket the price to a new high.
If the rejection triggers a drop, we may see a serious crackdown in the next few days following a double-top formation on the daily timeframe.
However, looking back from where it bounced back in February, Form has seen over 15x gains to where it is changing hands, and from the look of things, it has shown no signs of slowing down at the time of writing.
Form’s Key Levels to Watch
Source: Tradingview
A breakout of the important $2.66 resistance level should trigger a surge to a new all-time high of $3 and potentially $4. Higher price levels to consider for test would be $7 and $10 in the far term.
The current bullish signal is supported by the $1.83 level. A sudden drop off this level should confirm a bearish double-top pattern to $1.3. Losing grip above $1 could roll the price back to the $0.81 support.
Key Resistance Levels: $2.66, $3, $4
Key Support Levels: $1.83, $1.3, $0.81
- Price: $2.5
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
