【See Decline】
FORM is currently reported at 0.3156; in the past 24 hours it has fallen 12.24%. Over 7 days it is still up 31.83%. The intraday range is 0.2976–0.3602, with a volatility of 21.0%.
【Market View】
FORM is down 12.24% over the past 24 hours. After rebounding to around 0.3602, it was pushed back down again; there’s a high density of trapped sell orders overhead.
The support at 0.2976 hasn’t been tested with real buying/selling yet, so confidence is not strong.
Putting BTC’s +0.87% alongside it, FORM’s trend is clearly weaker.
In the short term, it leans bearish.
【Reasons for Bearish Outlook】
The selling pressure near 0.3602 hasn’t been fully digested yet; each time the price rebounds, the rebound strength is weaker than the last.
The rebound is on shrinking volume, while the decline is on rising volume. Under this kind of structure, every pullback/rebound is easy to be sold back down.
If near 0.2976 it suddenly sees a surge in volume, that would indicate funds are starting to bottom-fish; at that time, don’t get too attached to the trade.
For now, look to see whether 0.2976 can hold. If it breaks, don’t rush to catch the falling knife.
$FORM #FORM
FORM is currently reported at 0.3156; in the past 24 hours it has fallen 12.24%. Over 7 days it is still up 31.83%. The intraday range is 0.2976–0.3602, with a volatility of 21.0%.
【Market View】
FORM is down 12.24% over the past 24 hours. After rebounding to around 0.3602, it was pushed back down again; there’s a high density of trapped sell orders overhead.
The support at 0.2976 hasn’t been tested with real buying/selling yet, so confidence is not strong.
Putting BTC’s +0.87% alongside it, FORM’s trend is clearly weaker.
In the short term, it leans bearish.
【Reasons for Bearish Outlook】
The selling pressure near 0.3602 hasn’t been fully digested yet; each time the price rebounds, the rebound strength is weaker than the last.
The rebound is on shrinking volume, while the decline is on rising volume. Under this kind of structure, every pullback/rebound is easy to be sold back down.
If near 0.2976 it suddenly sees a surge in volume, that would indicate funds are starting to bottom-fish; at that time, don’t get too attached to the trade.
For now, look to see whether 0.2976 can hold. If it breaks, don’t rush to catch the falling knife.
$FORM #FORM
