FORM Current Market Trend Analysis and Trading Outlook
Currently, FORM is in a stable consolidation phase, with market prices fluctuating around the 0.3486 line. From a technical perspective
this price has fallen below the 7-hour, 25-hour, and 99-hour moving averages.
These three key moving averages are currently located at 0.3494, 0.3529, and 0.3650, respectively. The pressure from multiple moving averages has led to a mixed and cautious bearish trend in the current market.
The key turning point for future trends lies in the resistance level around the 0.365-0.37 range corresponding to the 99-hour moving average.
If the price can form an effective breakthrough, accompanied by clear volume support,
it will successfully open up upward space, and there is hope to launch an attack towards the 0.38-0.45 range, while the previous high point of 0.4549 will become the core target for this upward movement.
On the support side, short-term immediate support focuses on the 0.345-0.34 range, and the defense strength of this area will directly affect the stability of the short-term trend.
If the short-term support is breached, the previous swing low of 0.2691 will become a stronger support line.
In terms of volume, FORM experienced a significant volume anomaly during the previous rally phase, and the current volume has fallen to a medium level.
For the continuation of the bullish trend, not only does sustained volume follow-up need to be ensured, but more importantly, the price must decisively rise above the 99-hour moving average to solidify the upward foundation.
