Hi Melissa, currently there is not an automation that would support the action you described with a Formula Column.
We do offer an automation that supports a Numbers column. However, it currently offers a less than, equal to, or greater than criteria:
There is not a recipe at this time that would look at a range of numbers, and change a status column based on that range. If you’re wish, this can be submitted directly to a dedicated section of our community page as a feature request, which is reviewed by our product team! Learn more here 