$FORM pump 36% within a single session, volume over 20 times. This morning the buy-back price was more than one-tenth.
Session 21/09, $FORM closed up 36.59%, trading volume surged to 22.7 million USD — in the previous days, this coin only traded around 1 million USD per session. This is the heaviest session of $FORM in at least the past ten days.
The very next day, the price opened at 0.3537 then dropped to 0.3135, giving back more than 11% in one session. On the 4-hour chart, the price is still above both the EMA20 and EMA50, meaning the short-term trend has not broken even though it has pulled back strongly.
A spike with volume more than 20 times the normal level, followed by such a sell-off, is often seen in coins that few people pay attention to — the price tends to jerk in both directions over the next few sessions. The 0.271 zone (touched 3 times on the 4-hour chart) is an area to watch: if it holds, the uptrend continues; if it breaks, most of the pump is essentially returned.
Personal observation only, not investment advice
#FORM #Altcoin #Crypto #CryptoNews #BinanceSquare
Session 21/09, $FORM closed up 36.59%, trading volume surged to 22.7 million USD — in the previous days, this coin only traded around 1 million USD per session. This is the heaviest session of $FORM in at least the past ten days.
The very next day, the price opened at 0.3537 then dropped to 0.3135, giving back more than 11% in one session. On the 4-hour chart, the price is still above both the EMA20 and EMA50, meaning the short-term trend has not broken even though it has pulled back strongly.
A spike with volume more than 20 times the normal level, followed by such a sell-off, is often seen in coins that few people pay attention to — the price tends to jerk in both directions over the next few sessions. The 0.271 zone (touched 3 times on the 4-hour chart) is an area to watch: if it holds, the uptrend continues; if it breaks, most of the pump is essentially returned.
Personal observation only, not investment advice
#FORM #Altcoin #Crypto #CryptoNews #BinanceSquare
