Four (FORM) Fires Up 11%, Will the Momentum Fuel Bigger Gains?

The overall crypto market cap has slipped by 1.04%, settled at $3.11 trillion. Notably, the fear sentiment is hovering across the assets, with the fear and greed index value holding at 37. Among the altcoins, Four (FORM) has jumped by over 11.61% in the last 24 hours, emerging as the top gainer.

In the early hours, the bear hold in the market has kept the asset at its low of $2.28. Gradually, the bullish command has pushed the price toward a high at around $2.59. The key resistance levels of the asset have broken between the $2.30 and $2.57 ranges. 

The surge in price now keeps Four trading within the $2.57 range, with a market cap of $984 million. Moreover, the daily trading volume has increased by over 216%, reaching $36.32 million.  

The monthly price chart of the asset has revealed a solid 10.69% loss. FORM’s monthly high was recorded at around $3 and the price slipped to the current trading range. 

Can FORM Flip the Momentum?

The asset’s Moving Average Convergence Divergence (MACD) line touches the zero line while the signal line remains below it, which suggests that a potential shift from bearish pressure to a bullish crossover. Besides, FORM’s Chaikin Money Flow (CMF) indicator, found at 0.03, indicates a slight bullish momentum and buying pressure in the market. Also, the capital is flowing into the asset. 

The price chart of FORM is attempting to step into the bullish zone, with the green candle having formed in the market. The price might move up to the resistance level above the $2.61 mark. Further correction on the upside could initiate the golden cross formation, supporting the price action. 

Upon a reversal in the market, the price hints at a bearish signal. The potent bears in command could push the price down toward the $2.50 range. If the sturdy downtrend continues, it might likely send the FORM price to its established lows with the help of the death cross. 

Furthermore, the daily Relative Strength Index (RSI) at 67.59 signals that the asset is approaching overbought territory and remains in a strong uptrend zone. FORM’s Bull Bear Power (BBP) value of 0.2468 implies that the bulls are in control of the market.

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