$FORM (Formation Fi) is currently priced at $0.2977 (₹83.68), showing a decline of -9.07% over the past 24 hours — market sentiment is bearish. The price is below both its MA(25) and MA(99), but is almost equal to MA(7), which suggests the possibility of short-term consolidation.
Immediate support is in the area of $0.2971–0.2972**, where buying volume is visible in the order book. If this level breaks, the next support could test **$0.2905 (24h low). Resistance upwards starts around $0.2979–0.2980**, then **$0.2981 (MA 25) and $0.3042** are strong barriers. If a price reversal occurs, the first target could be **$0.3042 and then $0.3137 (MA 99) may become realistic.
The order book is relatively balanced, but the sell side appears to be slightly dominant. There is a downtrend of -18.43% over 7 days and -88.71% over 90 days, confirming a strong bearish trend. Currently, there is no clear signal for buying — wait for the price to take a clear direction, otherwise, the sideways to bearish move may continue.
