In recent days, the cryptocurrency market has experienced fluctuations. The asset FORM has emerged as a notable player, demonstrating significant growth and increased trading volume.
Current Market Situation
The overall cryptocurrency market cap has slipped by 1.04%, settling at $3.11 trillion. The fear and greed index remains at 37, indicating investor caution. Meanwhile, the FORM asset has jumped by over 11.61% in the last 24 hours, becoming a top gainer among altcoins.
Technical Analysis of FORM
Early in the day, the asset was at its low of $2.28, but the price gradually increased to around $2.59, breaking key resistance levels between $2.30 and $2.57. Currently, FORM is trading within the $2.57 range with a market cap of $984 million. The daily trading volume has increased by 216%, reaching $36.32 million.
What to Expect Next?
According to the Moving Average Convergence Divergence (MACD) indicator, the asset's line approaches the zero mark, suggesting a potential shift to bullish positions. However, the indicators show mixed signals, and there is a possibility of further decline to the $2.50 level if bearish momentum continues.
Given the current market situation, FORM displays mixed signals, making this asset intriguing for analysis. Market participants should closely monitor price changes and key indicators.
