Despite the negative trend in the cryptocurrency market, FORM shows significant growth, establishing new price levels and ensuring increased trading volume.
Overall Situation in the Cryptocurrency Market
In a bearish trend, many cryptocurrencies are showing red. Bitcoin (BTC) trades at $117.9K, while Ethereum (ETH) is at $3.8K. However, FORM displays activity, setting a positive note for the market.
Price Growth of FORM and Technical Analysis
In the last 24 hours, FORM's price increased by 11.87%, reaching $3.78, after climbing from a low of $3.27. Its current market cap is $1.44 billion, and the trading volume surged by 479%, touching $53.85 million.
Potentials and Risks for FORM
Technical indicators confirm the bullish trend for FORM. MACD and Chaikin Money Flow signal positive market sentiment. However, the RSI shows 70.38, indicating a potential correction. If the situation changes, price increases may turn into declines, with support at $3.72.
The analysis of the current situation with FORM shows that despite the overall decline in the crypto world, this asset is still capable of surprising with its growth. Traders should carefully monitor price dynamics and be prepared for potential changes.
