- 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 and higher lows within the regression channel.
The markup phase shows clear bullish control, with recent candles hovering around $2.78. The upper boundary of the channel holds around $2.90, while the lower boundary supports at $2.60. Price action stayed above key support levels, confirming the continuation of the current uptrend.
RSI Approaches Critical Threshold as MACD Reflects Bullish Market Trend
The RSI index is currently at 68.34, slightly below the overbought threshold of 70. The RSI has climbed steadily from under 50 during consolidation. The current reading indicates sustained buying pressure without signaling immediate exhaustion. The RSI remained above its signal line of 66.60, affirming ongoing bullish momentum.
The MACD line has crossed above the signal line, standing at 0.1611 against 0.1278. Histogram bars remain positive, showing consistent upward momentum. The MACD continues to rise alongside the histogram, indicating strengthening trend continuation. Values remain elevated since the early May breakout. FORM/USDT remains in an active markup phase with no immediate signs of trend reversal, based on RSI and MACD readings.
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