FORM, previously BinaryX (BNX), has surged by almost 20% in the last 24 hours, surpassing Bitcoin (BTC) and Ethereum (ETH) to become the top gainer in today's trading session. The increasing demand for this altcoin may lead to further gains in the short term.

Currently trading at $2.54, FORM has displayed positive signs indicating a potential sustained rally. Technical indicators, such as the Supertrend indicator, suggest that FORM could revisit its previous high of $2.65 achieved on March 24. When the asset's price is above the Supertrend indicator, it indicates strong buying pressure in the market, supporting continued upward momentum.

Additionally, the Aroon Up Line for FORM confirms a robust uptrend, with a reading at 100%, signaling significant buying activity. This suggests that FORM's price may keep rising due to high buying pressure.

In light of these indicators, FORM seems poised to reach its record high of $2.65 as momentum grows. However, if profit-taking by investors resumes, the price could potentially drop to $2.44.