Deep Dive
1. Technical Rebound (Bullish Impact)
Overview:
FORM’s RSI-7 (35.37) and RSI-14 (33.59) hover near oversold levels, while the MACD histogram turned positive (+0.00995) for the first time since September 2025. Prices reclaimed the $0.478 Fibonacci retracement level, a critical support-turned-resistance zone.
What this means:
Traders often interpret oversold RSI readings and MACD crossovers as contrarian buy signals, especially after steep declines. The 24h volume surged 43.87% to $60M, suggesting conviction in this rebound. However, the 200-day SMA at $2.50 remains 80% above current prices, highlighting long-term bearish pressure.
What to look out for:
A sustained close above the 50% Fibonacci level ($0.907) would signal stronger momentum.
2. BNB Chain Ecosystem Support (Mixed Impact)
Overview:
BNB Chain launched a $45M airdrop on October 13 to compensate meme traders after a $19B market crash, with Four.meme named as a partner (Yahoo Finance).
What this means:
While not directly funding FORM, the initiative boosted sentiment around BNB Chain projects. FORM’s role as a meme/GameFi launchpad on BNB positions it to benefit from renewed developer activity. However, the broader BSC meme season has cooled, with $8M migrating to Solana-based Pump.fun last week.
3. Binance Delisting Side Effects (Neutral Impact)
Overview:
Binance delisted four spot pairs (including PNUT/BRL) on October 24, citing low liquidity. While FORM wasn’t affected, the reshuffle may have redirected attention to surviving BNB Chain assets (U.Today).
What this means:
Traders often reallocate capital from delisted assets to related ecosystem tokens. FORM’s 24h turnover ratio (volume/market cap) of 32.6% indicates high speculative activity, amplifying volatility from such events.
Conclusion
FORM’s bounce combines technical oversold conditions with indirect benefits from BNB Chain’s trader compensation program, though its -87.75% 90d drop underscores persistent risks.
Key watch: Can FORM hold above the 23.6% Fib level ($0.478) amid shrinking BSC meme dominance?