#اخبار_الكريبتو_العاجلة #عملات_رقمية #اقتصاد_رقمي #wct
The FORM stock is currently trading at approximately $0.37.
The daily trading volume has increased by over 268%.
As the downward pressure continues in the cryptocurrency market, all $BTC major assets show mixed signals. Amid the ongoing fear, major assets like Bitcoin (BTC) and Ethereum (ETH) are trying to escape the downward trap. At the same time, the FORM coin, one of the trending cryptocurrencies, recorded a strong increase of over 14.47%.
With a potential bullish shift in the cryptocurrency market, its price rose to a high of $0.449 from a low of $0.3328. After breaking through a series of resistance levels between $0.34 and $0.43, the strong upward trend has been confirmed.
According to CoinMarketCap data, this recent increase has enabled the FORM coin to trade at $0.3703, bringing its market capitalization to $140.87 million. Additionally, the daily trading volume of the coin surged significantly by over 268.34% to reach $146.3 million. The market witnessed liquidations worth $1.03 million.
FORM's stock is on the rise: how high can it go?
The technical analysis of FORM's stock shows that the Moving Average Convergence Divergence (MACD) line has crossed above the signal line, indicating increasing bullish momentum. Recent price gains are accelerating at a faster pace than the long-term trend. Additionally, the Chaikin Money Flow (CMF) at 0.04 indicates slight buying pressure in the market. Notably, capital is flowing slightly into the stock, but it is not strong, suggesting that it indicates the beginning of a consolidation phase.
FORM chart (Source: TradingView)
The price chart for the FORM/USDT trading pair over four hours shows the formation of green candles, with the price rising to test the resistance range at around $0.3841. An extended bullish correction may push the price above the $0.3965 level.
Assuming the asset's momentum shows a red chart, the price may drop and find its nearby support at around $0.3611. If the downward correction continues, potential sellers may push the asset's price to the next support level below the $0.3529 area.
Furthermore, the daily Relative Strength Index (RSI) of the asset is 70.18, indicating its proximity to the overbought area. Buying pressure may also be strong, and a pullback or consolidation in price may occur. The Bull-Bear Power (BBP) reading for the FORM pair has stabilized at 0.0921, suggesting a slight bullish dominance. Notably, since the value is relatively small, the bullish momentum is moderate, giving cautious optimism rather than a strong upward trend.$SOL
