Currently, the cryptocurrency market is exhibiting bearish trends with significant losses across various assets. The token FORM, in particular, has seen a steep decline.
Overall Cryptocurrency Market Status
Most assets in the crypto space have fallen into negative territory amid a bearish wave. Bitcoin (BTC) and Ethereum (ETH) are currently trading at $109.4K and $4.4K, respectively. Many altcoins are also under pressure.
FORM Price Dynamics
FORM has recorded a steady loss of over 21.12%. It peaked at $3.81 during trading, but then the price dropped to $2.82. Further bearish trends might lead to an additional price decline.
Technical Indicators and Forecasts
Current metrics such as the Moving Average Convergence Divergence (MACD) indicate a prevailing bearish pressure. The Chaikin Money Flow indicator shows significant selling pressure. The four-hour chart demonstrates a bearish pattern, suggesting a potential further decline to a support level of $2.98.
The current situation in the cryptocurrency market, particularly for the FORM token, underscores uncertainty and weak buying activity. Investors should closely monitor trend changes to assess future opportunities.
