Four (FORM) Explodes 26%: Sustainable Trend or Quick Pop?

• FORM has rallied 26%, trading at the $0.35 range.
• Four’s daily trading volume has surged by 17%.

With the modest 2% uptick in the market, the crypto assets are pushed to the briefly formed green zone. As a result, the dominant assets, Bitcoin (BTC) and Ethereum (ETH), have gained over 4% each, seeking to climb higher. Among the altcoins, Four (FORM) has steadily rallied by over 26.33% in the last 24 hours. 

This bullish encounter has triggered the price to mount to a high of $0.3881 from a low of $0.2531. Four have tested multiple crucial resistances to confirm the uptrend. The recent surge sees FORM trading at $0.3597, with its market cap at $138.9 million. In addition, the trading volume is up by 17% to $103.77 million.

The FORM/USDT trading pair’s 4-hour chart reports the bullish trajectory, and the price could climb to the resistance at $0.3651. Further pressure on the upside might invite the golden cross to take place, likely sending the price above $0.37. If the price chart turns red, the FORM might fall toward the support at around the $0.3530 range. Assuming the bearish correction strengthens, the death cross would emerge, and the potent bears may drive the price to $0.34 or even lower. 

Charts Point to Growing Strength for FORM

FORM’s Moving Average Convergence Divergence line is positioned above the signal line. It is a clear sign of bullish control, and the overall structure supports further upside. Notably, as long as the MACD stays above, the trend is likely to stay intact.

FORM chart (Source: TradingView)

Besides, the Chaikin Money Flow indicator value at 0.22 shows a sturdy buying pressure in the Four market. With noticeable capital flowing into the asset, active accumulation takes place. If CMF remains elevated, it can help sustain the positive trend. 

The daily Relative Strength Index (RSI) at 80.75 indicates that the asset is in extreme overbought territory. It also reflects a very strong bullish bias. However, FORM may be heavily overextended, increasing the chance of a short-term consolidation.

Moreover, Four’s Bull Bear Power (BBP) reading of 0.1209 suggests moderate bullish dominance. The price is trading above its average level, reflecting a steady uptrend and likely the growing buying interest. It further supports a constructive short-term outlook.

Top Updated Crypto News

Can DOGE Shake Off Bearish Pressure, or Is a Deeper Slide Ahead?