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FORM leads with 30% gain – But traders are already deleveraging

Over the last 24 hours, Form [FORM] has seen a significant price increase of over 30%, exceeding the performance of the entire cryptocurrency market. It was the top-performing coin among the 200 largest by market capitalization, with trading volume jumping 90% to approximately $89 million.

As a crypto investor, I’ve been watching FORM closely, and it’s currently the top performer on BNB Smart Chain launchpads for memecoins. Its price was really starting to break through a key resistance level, and it seemed like future developments were going to push it even higher. But, I’m a little concerned because trading volume is decreasing. I’m wondering if FORM can keep this momentum going with lower volume.

FORM’s price volatility is exploding

The price of FORM recently surpassed a downward trend line at $0.19, which had been holding back price increases since January 11th.

After a period of limited price movement in February, FORM is now showing a strong upward trend. This is confirmed by the widening of the Bollinger Bands, which suggests a significant increase in price volatility.

The MACD indicator suggested strong buying activity, but the upward trend in FORM slowed a bit as the price fluctuated between $0.27 and $0.30.

If buying pressure on FORM continued, the platform could reach $0.45, which represents its recent high. However, the price is currently stabilizing between $0.27 and $0.30, suggesting a possible decrease in the near future.

Derivative whales are buying aggressively

The price of FORM was mainly influenced by large cryptocurrency investors, often called “whales.” According to CryptoQuant data, these whales began buying FORM tokens around $0.19 in late February and have continued to purchase them, even as the price rose to around $0.27.

Over the last three months, buying pressure has been consistently strong, as shown by a positive Cumulative Volume Delta (CVD). This strength has been particularly noticeable in the last month, with the most recent two days showing the highest CVD readings, suggesting buyers are clearly in control.

Average Order Size and Taker CVD showed no clear trend in the immediate market, suggesting traders weren’t actively engaging with crypto. However, with trading volume now decreasing, this lack of engagement could become a problem.

Spot volume decreasing

The Spot Volume Bubble Map revealed a decrease in trading volume, which contrasted with the Futures market. This suggested that overall market confidence in the long-term future was weakening.

This could potentially end the recent market gains. Traders tend to close out leveraged trades faster than regular purchases, and while leverage can be beneficial, it also comes with risks.

Looking at the data from CoinGlass, I observed that traders on Binance were actually reducing their leverage when the price hit around $0.30. This suggests they were expecting a potential drop in price after that level, and were positioning themselves accordingly.

Final Summary

  • FORM rallies 30% in 24 hours due to aggressive buying by whales and increased volume. 
  • Traders were deleveraging from FORM trades at prices above $0.30, indicating a potential pullback. 

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2026-03-04 03:06