#FORMUSDT: Quick Breakdown of a Long Setup!

📉 Long FORMUSDT.P from $1.9037
🛡 Stop Loss: $1.8313

🕒 1H Timeframe

⚡️Overview:
➡️ Current Price: $1.8831 — this is where FORMUSDT.P is trading right now.
➡️ The price recently dropped from around $2.0000 to $1.4000 — a sharp decline! But then it started recovering and is now in a consolidation zone.
➡️ Volume: At the bottom of the chart, you can see volume bars. There was a particularly large volume at the $1.4000 level, where the price reversed. This suggests a lot of activity — possibly big players starting to buy.
➡️ Key Levels: The right side of the chart shows important price levels:
➡️ $1.8313 — stop loss to protect us from losses.
➡️ $1.8932 and $1.88313 — the nearest resistance levels that the price needs to break to move higher.
➡️ $1.7464 — a support level below, in case the price goes down.

🎯 TP Targets:
💎 TP 1: $1.9690
💎 TP 2: $2.0400
💎 TP 3: $2.0890

⚡️ Plan:
➡️ Entry Point: $1.9037 — this is the level to enter the buy. The price is currently slightly below ($1.8831), so we need to wait for it to rise to this mark.
➡️ Stop Loss: $1.8313 — if the price falls below this, the trade will close with a small loss to minimize risks.

Risk/ Reward: If we calculate, the distance from the entry to the stop loss is $0.0724, and to TP1 — $0.0653 (a ratio of nearly 1:1). To TP2 — $0.1363 (1:1.88), and to TP3 — $0.1853 (1:2.56). This is a good profit potential if the price moves up!

📢 The FORMUSDT.P price just bounced off the strong $1.4000 level, where there was high volume. This could be a signal that big players started buying, and the market is ready to rise.
📢 The $1.9037 level (entry point) aligns with the POC (Point of Control) — the zone with the highest trading volume, which often attracts the price.
📢 If the price breaks the resistance at $1.8932, it could easily reach $1.9037 and then move toward our targets.

🎯 How Does This Signal Relate to the Market?
The recent news about the resolution of the #Ripple vs. #SEC case, which I wrote about earlier, creates a positive backdrop for the entire crypto market.
➡️ When major projects like #Ripple gain clarity, it adds confidence to investors.
➡️ Altcoins like FORMUSDT.P can catch this wave of optimism.
➡️ If the market continues to rise, FORMUSDT.P has a chance to break resistance and move toward our targets!
➡️ Important: The crypto market is volatile, so don’t forget about risk management. Don’t risk more than 1-2% of your deposit on a single trade.