Can FORM Push Higher After Smashing Its All-Time High?

• FORM has hit a new ATH at the $3.04 range.
• Its daily trading volume has surged by over 94%.

With the crypto market cap settled at $3.46 trillion, the assets have fluctuated between red and green charts. Notably, PancakeSwap (CAKE) and Quant (QNT) took the spotlight among top gainers, posting double-digit gains. 

Meanwhile, Four (FORM) has spiked by over 2.15% in the last 24 hours, hitting its new all-time high at $3.04. The bullish shift has triggered the asset to send the price toward a high from a low of $2.87. FORM has broken the crucial resistance at the range of $2.97. 

The recent spike now sees FORM trading at around $2.95, with a market cap of $1.12 billion. In addition, the daily trading volume has increased by 94.05%, reaching $18.75 million. 

The asset’s price chart over the last seven days reveals a solid 13.50% gain. FORM’s weekly low was recorded at around $2.59, and later, the price climbed to a high range of $3. 

FORM Market Trends: What is Next?

The FORM/USDT trading pair’s four-hour chart exhibits a positive sentiment after a potential short-term trend reversal. After a series of red candle formations, the green candle has formed — a bullish signal. The buyers defended the support zone at $2.89 strongly, driving the upside rally. 

However, if the asset’s chart prints a cautious price graph, it typically hints at a bearish signal. Unless FORM convincingly breaks above the $3.10 range and with a potent bullish command, and eventually $3.17, the downtrend could continue, sending the asset’s price to its former lows. 

The Moving Average Convergence Divergence (MACD) line is found above the signal line, indicating bullish momentum, as the price action is gaining strength. Besides, FORM’s Chaikin Money Flow (CMF) indicator value at -0.03 suggests a slight bearish momentum in the market, with more selling pressure than buying over the period.

Moreover, the daily Relative Strength Index (RSI) at 67.45 points out that the asset is approaching the overbought territory. If the value crosses 70, there might be signs of a correction or consolidation. FORM’s Bull Bear Power (BBP) reading of 0.1108 signals that bulls are currently dominant over bears in the market.

Finally, the asset’s chart shows signs of a brief bounce. Bears have dominated earlier, and the recent gain might not be strong enough to shift the trend into a potent bullish rally.

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